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The Good Unemployment Data Report is Good for Real Estate, and the Economy Overall

Posted by Michael Nash on July 4, 2014 at 1:45pm
Thu, Jul 04, 2014. Posted in "Real Estate Market News"

Since today is the 4th of July holiday, the unemployment data report came out yesterday  - and the numbers were good!

Unemployment continues to drop, and there are more new jobs in the economy that predicted. Overall this is great news for our recovering economy.

One impact of the report was to normalize interest rates a little, which in this case means going up slightly, but the average rate for top-tier borrowers is still 4.25% - very low!

Everyone is hopeful that strong economic data will continue to support the re-growth of our economy and especially real estate.

Michael Nash, Broker/CEO

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Comments

  • CECILIA D FOX July 22, 2014 at 8:51pm
    Thank you, Marvin. June unemployment records were just published in my area and are up again. We are still down over 10000 jobs in my urban area of Summit County/Akron Ohio since 2008.
  • Marvin Shelley July 18, 2014 at 6:29am

    Cece - How right you are. And I saw a news story today that 23% of people over 50 have gone back home to mama who is 70 or older. Then add the 19% of those aged under 25 who have gone back home to mama, and then some fools and idiots drink the Koolaid and believe the Recession is over.

    I'm waiting on the big bubble to burst as most mainstream analysts are talking about. This is third highest overvaluation in stocks  out of  only five times since 1830 - that's 1830 - where stocks were overvalued more than 10%. Three of those times, ended in huge stock market crashes and DEPRESSIONS.

    I have been following your posts for  while now, and lady, you do know what you are talking about.

  • CECILIA D FOX July 18, 2014 at 5:56am
    Unfortunately UNEMPLOYMENT news must be tempered by EMPLOYMENT news. Jobs being created are mostly part-time low paying service sector jobs. These jobs do not increase the number of home buyers or people with increased savings.
  • Marvin Shelley July 7, 2014 at 10:29am

    Michael - I love you bro., but these figures do not include the  millions who have given up on getting job and quit looking.

    Millions and millions are not included in these numbers. Many economists say the true unemployment rate  - when factoring in those folks - is closer to 17%.

    In my area - NW Arkansas- the economic engine for all of the state - the rate is 6% and that is incredibly high. The usual rate is 2.5-3.5%. Will probably be 4.5 to 5% when state figures are released.

    Real estate is doing pretty good. NW Arkansas is HQ for Waaalmart, Tyson, JB Hunt and U of Arkansas plus lots of smaller national and international companies.

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