Real Estate expert Mike Aubrey and CNN's Candy Crowley discuss why the housing market is plummeting.
John, there are real signs that politicians are paying lip services to unemployment and other problems. The federal government and Whitehouse alone cannot create jobs. Every job is in one state or another, and it is at this level that the main engine of job creation is being deliberately turned off. States and counties, broke, or cash strapped, are going after the smallest of businesses and pressuring them for any amounts they can squeeze out of them. They would find the smallest of reasons or manufacture reasons to impose all kinds of penalties on these small businesses. Frustrated, some of these companies owners are walking away and closing their doors for good. And jobs are disappearing immediately. The reason I know is that I am equally in business, with 9 employees. Went from 28 employees years back to nine. The state of Tennessee agencies are on a desperate assault on businesses. The IRS has strangely become more friendly and understanding of the plight of these entrepreneurs than the states and cities. They states and cities want money at all cost, even if it means forcing businesses to close.
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John King, USA aired weekdays at 6pm ET. The final show aired June 29, 2012.
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