by kpom » Wed Feb 04, 2009 8:19 pm
Renters spend lots of money, but they really don't generate very many jobs,
Actually, if you want to generate a lot of jobs locally, eat out a lot at fancy restaurants - restaurants are extremely labor intensive, and probably buy more local goods and services than just about any other industry. Burdening yourself with an expensive mortgage so that much of your income goes to far away banks and Wall Street does much less for the local economy.
Unfortunately, RE agents don't get to collect 6% of the cost of your restaurant meals...