PS, you say that there will be 1 million construction jobs lost in the real estate bust, this wouldn’t surprise me, but how did you determine this number? Last week the UT printed an article where some experts predicted 100,000 construction jobs will be lost in the next two years I believe. I think this is very optimistic but am curious where you come up with the 1 million number.
In terms of the lost jobs, I expect the majority of these jobs that will be lost are held by illegal immigrants so the primary net effect will actually be many illegals going back to Mexico which is a good thing for the country.
