If stocks are rising, that should mean the economy is improving. Yet even though the S&P 500 has soared 80% from its March 2009 lows, 70% of Americans don't believe the recession is over. Which side has a firmer grasp of reality?
If there is one thing that unifies residents of New Jersey in these divisive times, it's property taxes: Everybody hates them. One of the Garden State's chief claims to fame -- besides The Sopranos and The Boss -- is that its residents pay the highest property taxes in the country.
Historically low mortgage rates are making houses more affordable in terms of "the monthly nut," but other considerations can trump simple affordability, and ignoring those hidden costs and risks can turn buying a home into a potential financial disaster.
Record numbers of New Jerseyans voiced their anger at high property taxes and voted down over 50% of school budgets. With state finances squeezed all over the country, it signals that school funding will get even more politically contentious.
After sagging in the global financial meltdown of 2008, property values in China's urban centers skyrocketed in 2009. Some economists believe Chinese real estate is now experiencing a bubble, and when that bubble pops, it could threaten the global economic recovery.
