We now have a plethora of pertinent information regarding the state of our economy in Wicomico County.
1. Number of Wicomico County state & local Income tax returns - actual filing data, and, liability per individual tax return, including corporate liability.
2. Extensive compilation of US BLS data regarding our local area workforce numbers, unemployment, etc.
3. Realty-trac foreclosure rate information.
4. Actual number of factory business closings and identities.
5. Population census numbers
6. Voter registration numbers
According to all of the above cited information sources, and, not depending on any single one - but through collective analysis - I believe one can accurately conclude that the current state of our local economy is in shambles. Although some of our elected officials can try and put lipstick on a pig and call it beautiful - (reference to 2014 County Executive Budget Narrative - http://www.wicomicocounty.org/departments/finance_budget/budget%20narrative%20April%2016.pdf -) that does not hide the simple fact that our County's economic picture is horrible. Every one of the economic indicators cited above - confirms that Wicomico County is deep in malarkey - yet the government spending grows. Why the DT has not addressed it until today - I have no idea.
On the bright side - SBYnews reporting - has been ON THE BULLSEYE!
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
4 comments:
I got a job back in April after long term unemployment. I was told this job was going to be full time year round. Yesterday, myself along with two other employees were told that we could close and go home because it was a slow day. If someone had come to that business after 6PM they would be disappointed because we advertise being open later. It's getting scary.
Our MLS has been 21% or so foreclosures and short sales for well over a year. As one is taken off the MLS, another is added immediately. It's clear that there are more people in trouble than the markets indicate. And while banks hate carrying property, they would rather keep assets on the books at inflated costs and realize losses slowly over time. Otherwise, they would be declared insolvent.
Housing prices today are inflated, because the market is being manipulated to minimize the losses of lenders and homeowners.
What isn't clear is how this consistent number of foreclosures and short sales can exist for such a long time. One hypothesis would be that there is collusion among those in the mortgage industry.
I hope that GANG over there is HAPPY with themselves for RIGGING the mayor election. You REAP what you SOW, guys!
Only two words can fix this: JOE ALBERO!
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