Thursday, October 29, 2009

Where Will The New Jobs Come From

That seems to be the question of the day at this conference. It was the lingering question around the time I graduated from college, too. Then the internets came along. I think people are a little hard on the dotcom boom and bust, because while it was a bubble, the internets we still have with us. And they're pretty awesome. But then came the housing bubble, overinvestment in residential and commercial real estate, and massive mortgage equity withdrawal. Sure we're left with a bunch of empty houses and office buildings, which aren't entirely worthless, but empty houses deteriorate pretty quickly. The policy, it seems, is to breathe life into real estate while hoping something else comes along. It's a policy.