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View Diary: The Euro Crisis by the numbers (165 comments)

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  •  Most young Europeans (7+ / 0-)

    are locked out of getting jobs that are officially permanent and justify a mortgage.

    So in most of Europe the only people that have mortgages are older folks with job tenure.

    I think only in Britain and Ireland were young people able to get mortgages.

    There are big unsold housing problems in Spain and Ireland.  

    •  With the unsold housing banks (1+ / 0-)
      Recommended by:
      ozsea1

      might turn to unemployed construction workers to complete the housing and share in the sales price when sold.

      The share might be 3 Euros per hour of work estimated plus a bonus of up to say 5 Euros per hour of work estimated for the first unit sold going down to say 2 Euros per hour of work estimated for the last unit sold.

      The bonus is to encourage the worker to do a good job and to help the unit sell and to get out ASAP.

      The bank might send a man around each week to front the money needed to buy materials.

      The worker might have to vacate by say May 2014.

      The law might have to be changed to do this.

      •  Interesting idea (1+ / 0-)
        Recommended by:
        ozsea1

        Might take a little bit of political will, though. Is there a European Rick Santelli-type tool who will bellow "who wants to pay for construction workers to do their goddamn job"? Perhaps that might analogize the German response to the crisis as well

        An empty head is not really empty; it is stuffed with rubbish. Hence the difficulty of forcing anything into an empty head. -- Eric Hoffer

        by MichiganChet on Sun Nov 27, 2011 at 01:19:56 PM PST

        [ Parent ]

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