Tuesday, May 25, 2010

Who Says the Economy Isn't Recovering?

The best indicator that things are going to be alright is if the real estate market is getting back to normal, right? Well, here's an opportunity for you:

The real estate listing for the house that went on the market Monday at 108 Ocean Ave. refers to it as a "legendary home," but most people would know the sideways Dutch Colonial on the canal as the so-called Amityville Horror house.

Listed for $1.15 million, the picturesque and pristine home looks very different from the home where Ronald DeFeo Jr. murdered six family members as they slept in 1974. The 28 supposedly haunted days in the house experienced by subsequent owners George and Kathleen Lutz spawned the 1977 bestselling Jay Anson book "The Amityville Horror: A True Story" and a series of scary movies about alleged supernatural happenings at the house starting in 1979.

Even the address is different. Previous owners James and Barbara Cromarty, who own the Riverhead Raceway, said they had it changed from 112 Ocean Ave. to protect their privacy.

James Cromarty, 77, bought the house in 1977. By that point, a bank had foreclosed on the house from the Lutzes, who have since died. DeFeo is at the upstate Green Haven Correctional Facility, serving 25 years to life for the murders.

"Nothing weird ever happened, except for people coming by because of the book and the movie," said Cromarty, who lived a decade in the house.
I tell ya, if they even get close to the asking price for this place, start investing again.

9 comments:

Publius said...

Job loss continues and those without a job still can't find one. When that reverses itself I'll agree we have a better economy. So far, it hasn't happened, so we do NOT have a good economy. More jobs have been lost under Obama than any president in decades.

Danielk said...

Hey good news ... it has reversed itself! You'll note this paragraph from AP describes Job Growth. It means more people are getting jobs.

"The economy did add a net 290,000 jobs in April, the most in four years. But much stronger job growth is needed to drive down the 9.9 percent unemployment rate."

We need to do better, but I'm glad you agree the economy is improved.

"Unexpected" said...

Hey, any word on what the weekly Initial Unemployment Filings in May look like?

What a joke you are said...

You are the most intellectualy dishonest person I have ever met. I notice you didn't provide a link to your AP report, and that you neglected to add the sentences immediately preceeding your cut-n-paste:

In a separate report, the Labor Department said the number of newly laid off workers filings claims for unemployment benefits fell to 460,000 last week. But the latest level of claims is actually higher than it was at the start of the year.
By this point in the recovery, economists had hoped claims would be in the 400,000 to 425,000 range. That would signal more robust job growth was on the way.
The economy did add a net 290,000 jobs in April, the most in four years. But much stronger job growth is needed to drive down the 9.9 percent unemployment rate.

If it makes you feel better to selectively read and "share" things, more power to you. Keep whistling past that graveyard.

Danielk said...

How am I intellectually dishonest, man-who-changes-his-name-with-every-post? Warner says job loss continues, I point out that more people are employed with each passing month, and I add that we need to do better. But if more people are getting jobs, job loss is decreasing. Feel free to explain where I'm wrong about that one.

The unemployment numbers, as you know, are driven by the unemployment claims filed. That number can rise even if more people are getting jobs.

460,000 Initial Unemployment Claims Last Week said...

Having a different name makes one intellectually dishonest? Don't let Elton John hear that, or we'll have to destroy all of his CD's.

No, intellectual dishonesty happens when you claim that job loss has "reversed", when it's not even close to levelling off.

From that very same AP piece you feel is showing how rosy everything is in the job market, comes this passage that says what Publius pointed out earlier:

But the latest level of claims is actually higher than it was at the start of the year.

"More people" aren't getting jobs.

Danielk said...

Call me nutty... I read that there is net job growth, I conclude that more people have jobs.

By the way, what moves you you like to see the Obama administration make to improve the situation? Isn't the Government supposed to stay out of the way of commerce? How is it the Obama administrations fault exactly?

Regarding EJ, not the whole catalog. Maybe just everything after Captain Fantastic and the Brown Dirt Cowboy.

Speechless said...

Call me nutty... I read that there is net job growth, I conclude that more people have jobs.

So there are no problems with unemployment or the labor market as a whole?

Everyone that wants a job has one?
No need to extend unemployment benefits anymore?
Companies are hiring at a staggering clip?
GDP numbers are rising?

Danielk said...

A very, very wise man once said, "we need to do better". I'm out of ideas though, since any help the government could lend in this area is socialism. What do you suggest?