According to the latest EDD estimates, San Diego’s employment situation deteriorated noticeably in November. The retail industry took the worst of it, turning in a year-over-year decline of 6,400 jobs or or 4.2 percent.
continue reading at voiceofsandiego.org
This should set up a nice
This should set up a nice bounce in Real Estate this Spring.
I stand by my prediction made
I stand by my prediction made 3 months ago. 2009 will be a devistating year for real estate as unemployment grows and home prices continue to decline. A spring bounce is looking less and less likely as the terrible economic news from around the globe seems relentless.
I stand by last weeks
I stand by last weeks prediction that San Diego median will decrease by 25-30% between now and December 2009.
But I wish people would start looking at it in another way…
Where are the news stories celebrating the increase in affordability of housing?
You know Rich, I think the
You know Rich, I think the problem is that you just don’t like to draw graphs with upward sloping lines. I mean really, would it be so hard? I know you love your downward bias, but come on, lets not be so negative all the time.
Josh
What about this one?
What about this one? 🙂
http://www.voiceofsandiego.org/storyart/recessions_unemployment_10_08.jpg
Those graphs look pretty
Those graphs look pretty stark, Rich. Thanks for posting that.
Other than those using housing as a hedge against a dollar collapse/inflation, I don’t see why anyone would be buying right now, especially in the mid-higher tier areas that have just had minimal drops so far.