The Bureau of Labor and Statistics October report shows that 2 million people quit their jobs which is up from 1.7 million from October 2009. The last time there was a spike like this was at the end of the "jobless economic recovery" in 2003.
This report suggests that the economy is improving because people wouldn't quit their job if they didn't think they could get a new one. I agree with this report and what it suggests but I also think there's more to it than that.
This week Yahoo Finance released an article that suggested more and more out of work young professionals and new college graduates are goin' Entrepreneur! Why not?!
With little at risk financially, no family of their own, and more government money and tax breaks available to start up a business then there has been in a generation (see www.sba.gov ),now is a perfect time to own your own business. Because with ownership comes freedom.
Today's housing market mirrors the jobs market in that they are both on the upswing and all major indicators suggest that.
If you're fortunate enough to have a consistent income and your credit score is above 580 then you can take your pick in this housing market. It's like walking into a dollar store with 100 bucks in your pocket because it's a buyers market right now. You can get a 30 year mortgage at under 5% and buy a home tens of thousands of dollars less than what it would have sold for in 2003. It's a win win and with ownership comes freedom.
I think we will see a huge number of start up businesses in the next 3-5yrs and I also see the trend on home ownership continuing to grow amongst young people. People don't want to lives the same lives that there parents did and why should they? The days of working a job for 40 yrs and collecting a pension and a gold watch and riding off into the sunset are OVER. But this principle has stood the test of time; With Ownership comes Freedom
Christopher Jordan Edwards
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