Growing Sales, but not Jobs

September 29th, 2009 categories: For Buyers, For Sellers, Lake Tahoe Real Estate, National real estate news, South Lake Tahoe, CA, Stateline, NV

Associated PressMovement in the Right Direction, but a Way to Go Yet.

As we have seen more positive signs in the US economy for the last 6 weeks or so, we’ve been consistently discussing that we must see meaningful decreases in unemployment, and a decline in the abundance of distressed properties before we will see real growth in the US housing market.

The report today shows movement in the right direction about unemployment, but there is a long road ahead of us yet. Here’s a few points from today’s article:

  • "We’re beginning to see sales trending up, but not to the level that translates into meaningful gains in capital spending or jobs," said Ivan Seidenberg, chairman of the association and CEO of Verizon Communications.
  • As for jobs, a survey of CEOs, whose combined companies have 10 million employees, showed that many still expect meaningful drops in unemployment. The current U.S. jobless rate, at 9.7 percent, is expected to hit double digits this year and isn’t expected to return to a more normal level for several years.

(article here)

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This entry was posted on Tuesday, September 29th, 2009 at 10:13 am and is filed under For Buyers, For Sellers, Lake Tahoe Real Estate, National real estate news, South Lake Tahoe, CA, Stateline, NV. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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