this year probably 2.56789 then 2 million. the typical rate for us in our country has been around 5 or 600,000. it s going to be a while yet. you are seeing to see frankly potential buyers today are going to be renting still for a while. you are not going to see any dramatic trends in terms of helping our unemployment rate with construction workers getting back to work any time soon. kelly: what you said about 2014, that goes along with what fed chair bernanke was talking about as well that it s still a few years before, four to five years as a matter of fact, before we see a total rebound. having said that what s going on with our cities and our states? because the adversity index is up, up, up and away for some of them. they are being beleaguer the financially. they are. if you look at just municipals in general, municipalities in general, let me say it differently, they need to stop printing money and start printing jobs. we have got a bigger issue here. so the municipalities th
i don t think they will either. not in this house. i tell you this gal, meredith whitley who was interviewed on cnbc, she s talking about these 10 counties, cities, towns, municipals are going to go basically into default. if she s right, we ll have a very exciting year. this goes, by the way, back to cory booker in new jersey who desperately is trying to get the unions to be responsible with their police force. and unions across america are begging these cops in newark to stop being reckless, and they refuse. so cory booker asks the question, if i ve got cops that are being irresponsible, do i ask the state government or the federal government for more money to give to basically pay off hostage takers? his answer is no. i think you re going to see something dramatic happening there. i think it s beginning to happen.
is housing. we talk about tax reform and what the president can do about the economy. in 2008 everybody loved to trash fannie mae and freddie mac as, in their view, precipitating a financial collapse. housing prices still have not totally bottomed out. this is where americans who saw their nest egg go away and realize it s not going to come back. you have these huge government entities guarantees 95% of the mortgage debt in this country. what is washington prepared to do about that? if housing doesn t correct itself, you karntd see the unemployment rate move significantly. okay. a missed opportunity on taxes. but that makes the point which is, we ve had chris christie on this broadcast a number of times. it is possible that in the next two years our economy actually gets worse than we expect it to and the rubber really does meet the road when it comes to the municipals. we might have an inflection point, a moment where not only we have to cut spending, where people say oh, my goodn