It’s bad, but maybe not really really bad.
Bailout and stimulus checks can only kick the can down the road so far.
They don’t make COVID shut downs “cost free”
As is the case with every war, and every crisis, and every bad econoici decision
programs like that never make a war or a crisis “cost free,” the best they can do is make them “pay later.”
Later is now. The credit card bill is due.
The article notes
The number of construction job openings plunged by 240,000, or nearly 50%, to 248,000 in January compared to December, according to government data out Wednesday.
It was the largest-ever monthly decline in construction job openings in the data series that stretches back roughly 20 years.
Overall job openings, however, dipped only slightly in January, suggesting the overall economy remains strong.
That’s good thinking, but I believe this data comes from yesterdays employer survey (JOLTs report.) Employers report hirings, firings, layoffs, job openings etc…
It is possible that the BLS survey misses that, but it would be more likely to show up tomorrow.
Here in Indy they are focusing on luxury apartments downtown with only limited low income housing but apparently from what I have read the market here supports it. I am skeptical but my cynicism runs deep on most things connected to this city.