Are You Better Off Than Four Years Ago?

Massachusetts home sales are up and unemployment below national average.

Exactly four years ago this month, the bottom dropped out of the U.S. economy

Lehman Brothers declared bankruptcy on Sept. 15, 2008. The next day, the Federal Reserve announced a bailout of AIG. Bad news continued to pile up almost daily, with the stock market collapsing and millions of jobs vanishing.

No single factor will define such a complex process as selection of a president, but none might be greater than the simple question: Are you better off than four years ago?

In Rhode Island, the state unemployment rate in August was 10.7 percent, the second highest in the country only to Nevada's 12.1 percent. Nationwide, unemployment was at 8.1 percent in August 2012.

Sales of single family homes in Rhode Island in August 2012 saw a 22 percent increase from August 2011, according to RI Living.

"Overall, another favorable month for the Rhode Island real estate market," said Jamie Moore, 2012 President of the Rhode Island Association of Realtors.  "Sales are up, prices are rising, and despite a few ups and downs, the distressed market has become less significant throughout the year." 

Are you better off than you were four years ago? Or is your financial life the same or worse? Can you credit a presidential administration with business' success or failure or is the state of business left to business leaders? Let us know in the comments section.

John M October 01, 2012 at 10:23 PM
Karen I agree with you 100%
Karen Day October 01, 2012 at 10:41 PM
Thank you John.
bimbels October 02, 2012 at 02:41 AM
Staying on topic and answering the actual question of this article as to how I am personally effected - yes, I am better off. I work for a large corporation and my work group has gotten a small raise 3 years in a row (though I am still not back my pre-9/11 overall compensation), my 401K is booming thanks to the current stock market, and my home value has increased.
Seagirl October 02, 2012 at 05:09 PM
I work for one of RI's top employers and I haven't had a raise in over 4 years and they no longer contribute to my retirement plan. I lost a ton of money in this economy. I survive because like Mr. Sousa, I have always lived below my means, took out a mortgage I could afford even when approved for much more, drive a reliable car and don't feel I "deserve" anything that I don't earn. So, I will forgo a new cell phone President Obama, my kids sure in hell better be self sufficient waaaay before age 26 as they will not be on my health insurance that long, and I will teach them that they can achieve the American dream if they work hard and love their country like so many patriots before them.


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