Looking for Sparks in South Lake Tahoe Housing Market?

March 4th, 2010 categories: For Buyers, For Sellers, Lake Tahoe Real Estate, National real estate news, South Lake Tahoe, CA, Stateline, NV

A good economic fire has to start somewhere.The Key to South Lake Tahoe housing recovery lies in the US jobs market.

We've written about this a lot, and it's kinda worth repeating. The return of a stronger real estate market is tied to the US jobs market. We think pretty much the country knows that.

Consequently, it makes sense that housing industry prognosticators, and particularly those who would benefit by a more robust real estate market are searching high and low for any spark that might indicate a return to a hot market.

We certainly would like to see more South Lake Tahoe real estate activity; that's how we make a living. But we have to be careful here, like all of us, not to be overly enthusiastic with predictions of market growth. It's not the prediction of market growth, though, that can be tricky, it's taking premature action based on those predictions, whatever that action might be.

For us in particular, the idea of market growth is seductive; it simply means more, which in an economic / family support sense is always more attractive than less.

The cornerstone of our professional real estate practice, taking this discussion into context, is this blog. Our tag line, "information you can trust about Lake Tahoe and us" means something to us.

So much so, we're constantly aware that what we do here is tied to that trust, and we realize that being overly enthusiastic about anything has the potential of toying with that sacred trust.

As seductive as spark hunting might be, and we've certainly succumbed to enthusiasm before (we all have), we have become comfortable with adding caution into the mix when reporting about sparks, whether they be real, hoped for or imagined.

CNNMoney.comNow, we guess, we feel more comfortable with calling your attention to two CNNMoney.com articles. "First Spark of a Jobs Recovery" appeared yesterday, and we all want to see that, we realize, because it has to start somewhere, but we're not willing to bet the farm so to speak that this is necessarily it.

Here's a few bullet points in this article:

  • There are signs that the worst of US job loss is over.
  • Joel Prakken, chairman of ADP researcher Macroeconomic Advisers, sees a turnaround on the horizon. "If the recent trend continues, private employment could rise next month for the first time in two years."
  • A separate employment survey released earlier in the week concluded that the nation's tiniest businesses are already adding workers.
  • Firms with less than 20 employees added nearly 40,000 net new jobs in February.
  • Tiny companies tend to be the first to cut staff when the economy weakens — and the first to hire again when it improves.

The second CNNMoney.com article "Job Cuts Slow" also came out yesterday. Here are a few of its bullet points:

  • The pace of U.S. job cuts continued to slow last month.
  • Private-sector employers cut 20,000 jobs in February, the fewest since February 2008 when employment first began to decline.
  • February was the 11th straight month that job losses narrowed from the previous month.
  • The service sector reported job growth for a third consecutive month after a 21-month decline.

 

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This entry was posted on Thursday, March 4th, 2010 at 12:52 pm 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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