The last few days I've been driving a lot of back country roads. Covered good chunks of northern New Hampshire and northern Vermont.
Huge number of houses with for sale signs in front of them. It's at the point where if I drive down a street and the houses don't have signs in front of them, it looks odd.
Now there's a certain number of houses that change hands during normal times. These are not normal times. Behind many of those signs are stories of desperation, failure, and despair. When people have been out of work for months and years, benefits dry up. I know people who take any retraining course available, even if they hate the job the training is for. The do it because it extends benefits. They know the job won't exist anyway.
There are even quite a few places on the lake for sale. I never remember that happening. Usually, places on the water get snatched up quickly. Cottages stayed in families for generations and rarely appeared on the open market. Now there's plenty of choices.
After looking at all those for sale signs, something occurred to me. The place down the road was foreclosed well over a year ago. It's only been listed recently. How many other properties are banks sitting on, not putting out in the market?
Should I be seeing even more for sale signs?
Many the so called recovery is happening somewhere in the country. It certainly isn't here.