Steve Syre

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Fri, 11 Dec 2009|

The Boston Globe's Steve Syre talks about the current economic climate

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Tags:

  1. housing market2:11, 2:13
  2. stock market1:10, 2:05
  3. global warming3:58
  4. retirement plans2:03
  5. net worth0:58
  6. drill holes0:42
  7. foreclosures2:24, 2:40, 2:52
  8. President Abbas4:10

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    were coming up against that deadline for the the first time homebuyer tax credit that -- grant tax credit which was supposed to expire November. And I think clearly that had an impact on people's saying. Well we don't know it's gonna be extended or not in October or early October we really gonna. Start building a new house and hope for the best here. And things kind of fell down a little bit. That you know the good news is I think it is bumpy and it'll get better now that the bad news is I think it reflects how important that artificial stimulus. But of the tax credit is in propping up the housing market right now.
    right I think in the end yeah it's good to get a housing market that's recovering without any kind of stimulus effect did you like that almost everything else we talked about in the economy. You're gonna need to a broader sense of confidence about people's job to -- and you know at least direction only good news on unemployment and and so we really get that I think it's gonna be hard to have something as fragile as the housing market . -- covered by itself and that I think these housing start numbers are another piece of evidence to to suggest that.
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Automatically Generated Transcript (may not be 100% accurate)

Six AB WR Kerio. Seems Cyrus -- then again that's why we turned him every day they -- the presidents cup. We've just -- she just made you president of the business page. Outside Tom would be deferential volume Mr. President -- A I have a good lot of mister president are you today.

I didn't learn to speak with. -- it might subject yeah.

Again that's not what I thought I was I was not. I hear that I everything is wonderful in the economy now people are getting richer every day again.

Everything is hunky -- people feel like they have the money to go you know drill holes of their house in the coldest day --

and -- I am very good and that's when the price is about -- I.

But -- what we're talking about it this. Every quarter they put out at a story about our statistic about that the net worth of of Americans then. -- good news is that number went up by about 5% in the past quarter which. We've talked a couple of things but I very importantly. The back of the stock market went up in evaluating and it went up more than 5% but clearly that -- just a piece of the pie and most households and it. Don't -- incrementally good news but where you know while away from where we used to be --

No -- we're gonna celebrate tonight no we have really celebrate this better than having it go into decline there wasn't much of a presidential speeches. Now he's why I'm.

Offered -- actually blowing insulation at the though it's.

And by the way he's still awaiting the Nobel so -- the president while we -- the Nobel committee. The very little inching up in terms of -- Home values which is usually the central -- of almost every American's up what portfolio.

Absolutely house values sorry you know if you were to say. Be it in a typical household what you don't what is their network that it the value of their equity in their house it's the people own them and death. And their retirement plans which is that the stock market were talking about their bank account those are. Out of the typically the three legs -- you know the housing market didn't stocks are doing better but the housing market is still. Flopping around and does do word -- yet other numbers we were disillusioned by. Financial numbers these days but got that it the number of foreclosures what -- across the country. Yeah if you look at month to month there's sort of has disappeared it's one of -- less bad -- stories where the numbers are are getting smaller but still you know we're on track for another record year of foreclosures and he did in 2008 was a record and 2009 and a lot higher than 2008 so that -- and how bad we're talking about it looks like it's. We're gonna be inching up towards the more million foreclosures in 2009. A little bit less breed three point nine million but just the staggering number.

Steve have you entered our caption contests yet I don't know I -- if you go to wrko.com. Click on the -- form button and then scroll down the page you'll see a picture I don't know if this week is your picture and honor for holding them off till next week. But we take funny pictures and then ask people write captions for them so you got a great sense of humor people told me.

Not suggesting I take funny pictures and there's.

How funny pictures so immune to do that all right.

Yeah never it never really knew my eligible to win so I -- part of the game.

I think you get your for the blobby needed. Hot hot hot. I only he's president now I think you're eligible Mr. President and if not read you a loyal subject to find a -- our. Sorry airline president of the business page of the Boston Globe come on over this weekend I'm gonna have more house for the first time ever causing cancellation will be blown and so we can celebrate. In you're going to be snug as a bug in -- right -- right yeah I can only be because -- all the global warming going -- I need to insulate I don't make sure we stay cool in the house while I squander your patron electricity and air condition it be ironic. Tom yeah Steve Elliott is downstairs. What's -- now the President Abbas Celtics he had a good I think -- As bad as Thursday yes excellent I know he's coming -- we get some -- in a society come out of the caption contests which judges talked about -- what happened okay gate fee to six billion -- Imagine this let's regulate itself let's say ninety bucks shot. Hello and I had a powerful. Well -- for popcorn. Thousand want to talk radio -- personality.