The heat is on! Wisconsin Replublicans and Democrats have not yet come to terms on a collective bargaining agreement for state workers. Republicans are only one vote away from passing the bill which takes away union bargaining rights. Governor Scott Walker warned of mass layouts to 1500 state union employees; since 20 democrats have fled south to Illinois. Wisconsin’s economy is caught in the heart of this mess. The state capital building has the same amount of protestors as the vietnam war did about 40 years ago.
If 1500 workers are permanently laid off, how many can keep their homes? Wisconsin is currently is a 3.6 billion budget shortfall this year. Something has to give. Should it be state union employees accounting for $30 million of the deficit or can others areas be trimmed down? All major news networks has been covering this story. As the nation watches Wisconsin, which could soon also be a turning point in our nation, how will our housing market remain? Do you see more shadow inventory (foreclosures & Short Sales) coming down the line?