Jobs and Real Estate

I have commented on this topic several times and for those of you who follow Market Advisors you know that we believe that unemployment as an indicator is one of the most important for determining, or predicting real estate values.

So what do the latest numbers tell us?

That the numbers are still negative…meaning that job losses continue to rise. That the positive adjustment to the nation’s unemployment was only due to a revision in May and June numbers. hardly a reason to stand up and cheer.

Plus, take a look at the sectors. Construction shed another 76,000 jobs in July. Now ain’t that a b*?&h.

So from a real estate value prediction perspective….markets are in for more bad news until we see a positive hiring number for construction for one, and a positive number to job growth overall.

Simply put we are not there yet folks…as far as meaningful real estate recovery.

Check out the latest jobs report by sector