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I was curious if anyone knows what will happen to those people who, after all of the extensions, still cannot find a job. It seems that there are hundreds of thousands( if not millions ) of amercans on the EB tier of unemployment right now. Even after all of these extensions, it seems very clear that a huge percentage of these americans will still have no luck finding work before the EB tier ends. I mean, look at the math. We all want wishful thinking but there is no way all of these people are gonna be able to find jobs by then. People have become so dependent on unemployment extensions to help carry them, thier families and their mortgages. I guess the Federal government will have to draw the line somewhere right? I mean, they can do anything else after EB I would assume. I guess the extensions have to end somewhere but hundreds of thousands of americans will lose their homes, be broke, etc when this EB tier ends unless they find a decent job. It seems clear that this is the end of extensions. What is gonna happen to all of these people? We are not talking about a handful here. There is an enormous amount of people in the USA who have made it to the EB level already with no luck of work. Chances are, when that is up, many will still have no job in sight. If the USA ends up with lets say, hundreds of thousands of people ( possibly millions nationwide ) still unemployed after EB ends, are they all just left in the dark? Im talking about the people who are really trying here. These people will all get forclosed, starve, etc. The rules of EB state that a person on EB only needs to find a job with a pay that excedes what they are collecting per week on unemployment or it is no acceptable. The reason that was put into the rules is simple: $10 per hour jobs will not make ends meet for the majority of the population. Im just curious what is gonna happen after millions of people finish thier 20 weeks of EB and unfortunately still have no job. Im not referring to the lazy, I mean these people who are really trying hard and are about to hit a panic mode when they get to lets say 15-16 weeks into the 20 available weeks of EB with absolutely no job in sight. It is very scary based on the current levels of unemployed ( record numbers). It is true that stats show that recently, the numbers of new claims has dropped a hair but... the amout of people in the USA who are continuing to collect for long periods is climbing higher! It is very scary to look at. The extensions have been prolonging the inevitable but what will happen to all of these people? There has been record numbers of forclosures in the USA this year and the statistics didn't even calculate/add in the millions of homeowners who have been hanging on by a thread because of these unemployment extensions. When this EB extension is up, can you imagine how many more people will lose their homes nationwide? This isn't far fetched. I know a handful myself! I know some really educated people, who are real go-getters who are just having horrible luck with finding a decent job and their unemployment claim is the only thing keeping them afloat. I bet a lot of you know of people in this position. Again, I am not referring to the lazy americans out there. There is a huge percentage of people who are in real trouble and need the help. Imagine how much of this is happening nationwide? Will there be anything after EB?
Any insight?
Last edited by katedowney1; 06-05-2009 at 03:23 AM..
Maybe lower their standards and enter a lower tier job. Ask some of your unemployed buddies if they are willing to mow my lawn, for some reason I think they would decline. They aren’t hungry enough. While an immigrant or and illegal will do anything to make a buck.
they arent gonna get any more money and will be out of luck. They had over a year to find some kind of employment. if they cant, thats their fault. They might have to take a lower level job then they would prefer
they arent gonna get any more money and will be out of luck. They had over a year to find some kind of employment. if they cant, thats their fault. They might have to take a lower level job then they would prefer
do you know that THOUSANDS of people apply for every single job posted. and when they dont take applications their are lines around the block for any and every job out there. millions more are losings their jobs everyday and few jobs are being created to make up for the those lost. think first then post.
Maybe lower their standards and enter a lower tier job. Ask some of your unemployed buddies if they are willing to mow my lawn, for some reason I think they would decline. They aren’t hungry enough. While an immigrant or and illegal will do anything to make a buck.
actually most people how can find jobs are taking jobs are much lower tiers. remember unemployment pays very little. most full time jobs pay better than unemployment. that said, are you willing to hire full time for your lawn work or part time? if you think people are not trying to find work post and ad for your job on craiglist and see how many people respond.
do you know that THOUSANDS of people apply for every single job posted. and when they dont take applications their are lines around the block for any and every job out there. millions more are losings their jobs everyday and few jobs are being created to make up for the those lost. think first then post.
some of you guys crack me up, seriously. I hope my post gets deleted because it's useless to post here. im talking about people who are real educated and worked for companies for 20 years making a average-above average living so they felt some security. then they get laid off and have a 3,000 mortgage and 2 kids ( modest homes and mortgage price based on their incomes ) Im sorry but lawn work will not gross them 3,000 per month becuase... No landscaping company will hire an ex cpa to work for them and on top of it, pay them what they need to make ends meet. Read my post thoroughly before commenting. How can you lower you standard when you have bills to pay? If you work somewhere for 20 years making 100,000 and buy a home with a 3,000 mortgage, that is definitely not living above your means. then a mass layoff happens. you are resposible for the payments. this is happening in NJ more than you can possible image. Screw lawn work. Not everybody is physically inclined to do the kind of manual labor needed to gross 3,000 per month for a payment when they are used to be sitting in an office for 20 years. stop being cruel. you know that is torture and again, I know owners of landscape companies, they would never give a white collar person a job like that becuase they know they arent gonna be physically tuned to labor like that. Sorry but that job is for the millions of mexicans in NJ that are living here illegally. I just ratted about 20 of them out personally after finding out that there was about 10 of them each in 2 apartments above a restaurant in my town paying no taxes.
The people who are employed don't have a clue what it feels like to work hard, go to college to get a nice degree, work your way up a ladder and get laid off and then cant find a job paying what you need to save your home from being taken away. watch what happens in about 16 weeks or so when millions exhaust thier final EB entension. Watch how many more homes are gonna be lost. this will happen. There is no way it wont. There are a ton of people in NJ that will lose thier home in 16 weeks from now if they dont get a job that pays what they need to cover their loan. now house values are really gonna be worthless. for those of you in NJ who are fortunate enough to still have a job and plan to move... good luck getting even 65% of what you home is worth. All that hard work and equity is gonna be down the drain in 16 weeks when about 30% of the EB level unemployed reach their final payments and lose their homes. I suggest you feel for the people in this bad position because that is what sets the market. My sister just bought a home in a very nice town in NJ that was appraised 36 months ago for $450,000. It just went on the market. She got it for $280,000 and it is gorgeous. The owner was a 3rd year surgeon assistant who got laid off, collected while looking for anything that could cover the types of bill he had but ultimately just lost the house. plain and simple. Unemployment doesn't pay an amount that can keep everybody afloat. Your telling me this guy could save his home cutting lawns? come on! this is not a rare thing happening. it is all over NJ. A buyers market doesn't just happen for no reason. people in NJ need money bad. About 1 in 13 New Jersey residents do not have a job. That is a real statistic.
Do you really think that all of these people ( 1 in 13 ) should lower their standards? For many of them, It won't save thier homes or cover expenses thast they need for their kids. Please. If you don't stand behind these people who are in real trouble, and all these homes get lost, YOUR homes will be worth peanuts. It's already happening now. Go get your homes appraised. It is quite entertaining isn't it? People are giving aways their homes or at least allowing heavy negotiation.
Im not gonna argue back and forth here. I was just stating some facts. millions of NJ resident, in about 16 weeks ( when the first of the EB level unemployed stop getting benefits ) you are reallly gonna see a major increase in forclosures and it is gonna impact all of us. property value is plummeting in NJ. You guys must be seeing it in your towns a little bit right? Think of all the others who are still hangin on by a thread because of the unemployment. When it ends and they still don't have a job, the sheriff will simply show up and tell them to say goodbye to what they worked for. home equity loans...forget that one in about 16 weeks.
here is the moral of the story. You guys are being a bit cruel. you all know that if you have a really nice job for years and have an average mortgage and lose your job, lowering your standards, for the most part, will not gross you enough to cover your bills. How would you feel if it all hit you like a ton of bricks and you lost your home? I just truly feel bad for the real sincere ones who were living modestly and lost thier job and now nobody will give them a job paying what they have been used to for years and they have a home that they worked so hard for and are gonna lose it. I know the extensions cant go on forever but there must be a way to help them.
this is what sets propery values. I happen to live in a pretty nice town and a bunch of people have been losing their homes. well the market prices are so low that now our nice town is attracting people who can afford the price but its the kind of people ( dirtbags to be honest ) that don't take care of their homes. ( let the lawn grow for months, no cleaning the perimeter,etc ). Now the look of the town is becoming a turn-off and properly value hurts from that also.
Maybe this is all happening slow enough where many don't see the changes but this stuff is happening.
Last edited by katedowney1; 06-07-2009 at 08:54 PM..
What exactly is it that you think should be done? And with what money do you suggest doing it? Throw out some possible solutions and how to fund them, and then we can discuss them.
You're a bit all over the map here. Is it happening slowly or are millions of people losing their jobs every day? Do you want affordable housing available to everyone or do you want to retain your property values to keep the "dirtbags" from becoming your neighbors? You know the extensions can't go on forever, but you want to help? One way to help would be to give all the time and money you personally can to organizations that run food banks and private assistance programs. That's where many of the people you are concerned for will be turning over the next months - and those charities are suffering terribly.
We might or might not disagree on what should be done...but please don't automatically equate someone not agreeing with your opinion with that person having a blind eye towards suffering or not having a grasp on what is occurring in our world right now.
some of you guys crack me up, seriously. I hope my post gets deleted because it's useless to post here. im talking about people who are real educated and worked for companies for 20 years making a average-above average living so they felt some security. then they get laid off and have a 3,000 mortgage and 2 kids ( modest homes and mortgage price based on their incomes ) Im sorry but lawn work will not gross them 3,000 per month becuase... No landscaping company will hire an ex cpa to work for them and on top of it, pay them what they need to make ends meet. Read my post thoroughly before commenting. How can you lower you standard when you have bills to pay? If you work somewhere for 20 years making 100,000 and buy a home with a 3,000 mortgage, that is definitely not living above your means.
No, you can't afford 3k/month on 100k salary. I suppose losing their job would be a perfect opportunity for them to learn about living within their means. Under non-bubble conditions, they wouldn't be approved for that loan.
High unemployment numbers are terrible, I always thought of unemployment numbers as a kind of "public misery" index. Obviously, we'd all like the economy to pick up so that unemployment goes down. Unfortunately, we're paying a steep price for an economy that was based on borrowing and not production. What is really unfortunate, is that many people who were responsible and living within their means (e.g. not taking out 3k/month mortgages on 100k salaries) will still face unemployment. And others who hold on to their jobs, and made sacrifices while everyone else was binging on debt will have to listen to talk of "shared sacrifice" (which means, the people who weren't at fault are the ones who need to pay off the debt of those who were)
I don't really understand the concern about "bottom feeders" moving into your town. Current house prices are such that the guy who earns 100k is struggling to squeeze into a town where most households earn 60k or so. It seems to me that many home owners exhibit an arrogance that is completely unjustified, in that they assume that their middle class neighborhood is suddenly upscale by virtue of their presence.
they arent gonna get any more money and will be out of luck. They had over a year to find some kind of employment. if they cant, thats their fault. They might have to take a lower level job then they would prefer
It's not "their fault" that unemployment is up. When the number of jobs shrinks, there just aren't as many jobs any more. It's like a game of musical chairs. And you can't just set up your own business, because there is a drop in aggregate demand that makes this fruitless.
Taking lower level jobs isn't as easy as it might appear either -- in a down market, the jobs with fewer skills tend to have phones ringing off the hook. If you want a job at McDonalds, you'd better have 5 years of experience flipping burgers.
Basically, when the economy contracts and unemployment numbers are up, everyone is screwed. Even the gainfully employed (who are inevitably plagued by constant anxiety about losing their jobs)
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