THE WHITE HOUSE LOST MARKET VALUE TOO…

 

The Palm Beach Post Real Estate News page reports that,  “you and your neighbors are not alone.  The place the president and his family call home was worth 5.1% less last year, one analyst says.”

Zillow “zestimates” 1600 Pennsylvania Avenue, NW, Washington DC (The White House) at $288,494,000.  The residence has 16 bedrooms, 35 baths and is 55,000 sq ft.  They further estimate a monthly mortgage payment would be $1,216,562.

START COLLECTING YOUR WARES FOR SALE NOW AND GET A BOOTH ($25) AT DELRAY BEACH’S TRASH & TREASURE YARD SALE FEBRUARY 6TH

Turn your wares into cash by renting a 10x10 area at the TRASH AND TREASURE YARD SALE.  $25 fee must be paid by February 6^th at Administrative Office, Crest Theatre Building, open  Mon/Fri 9 am to 5 pm.  Load in between 6 and 8 am Friday, Feb 6th – yard s le is under BIG tent Entertainment Pavilion from 8 am to 1 pm.  NO Dealers and NO flea market items. Sale is for the general public.  A Goodwill truck will be on site after the sale to take any remaining items for donation.  Old School Square is at 51 North Swinton Avenue (off Atlantic Avenue) in Delray Beach.  For more information call 561-243-7922.

PALM BEACH POETRY FESTIVAL BEING HELD IN DELRAY BEACH

The Old School Square Cultural Arts Center is the location for the 6^th Annual six days of readings, lectures and poetry workshops. from Monday, January 18^th through Saturday, January 23^rd.  Twelve award-winning international poets will be featured as fans from 25 different states listen to participating poets in readings, talks and panel discussions.  Nine of the events are ticket and there are two free poetry readings. 

The faculty includes critically acclaimed poets who teach in graduate and college level writing programs and include the New York Poet Laureate, winner of the National Book Awared and many other  staff have received outstanding awards and fellowships.

Tickets are available through the festival website and at the Crest Theatre Box Office at Old School Square, or by phone at 561-243-7922. Tickets are $12 for adults, $10 for seniors and $8 for students. Special student group rates are available.

Visit http://www.palmbeachpoetryfestival.org/ for more information and a complete list of events.

REPORT ON THE ECONOMY

The Washington Post reports that:

"There has been zero net job creation since December 1999. No previous decade going back to the 1940s had job growth of less than 20 percent. Economic output rose at its slowest rate of any decade since the 1930s as well.

"Middle-income households made less in 2008, when adjusted for inflation, than they did in 1999 -- and the number is sure to have declined further during a difficult 2009. The Aughts were the first decade of falling median incomes since figures were first compiled in the 1960s.

"And the net worth of American households -- the value of their houses, retirement funds and other assets minus debts -- has also declined when adjusted for inflation, compared with sharp gains in every previous decade since data were initially collected in the 1950s." (See: "Aughts were a lost decade for U.S. economy, workers," Jan. 2, 2010)

Translation: The economy was downsized during the past decade.

We're just not going to have a better real estate market, or much of anything else, until demand for labor increases in terms of both jobs and real income.