While the governments ‘buyers tax credits’ may be helping get some Butte County buyers into the house shopping mode experts are predicting that jobs will determine whether people will remain in a buying mood after April 30.
Lawrence Yun, Chief Economist of the National Association of Realtors in an article in REALTOR Magazine states “The health of housing for the second half of the year is dependent on jobs, and on this point the picture is mixed. Although we expect GDP growth of about 3% this year, job growth will lag and we could see unemployment worsen to about 10.5% in the second quarter before it improves.”
According to the website SimplyHired, Chico has an unemployment rate of 12.3%, compared to the national average of 6.9%, and jobs have decreased in Chico by 39% since June 2008. If these numbers are true we here in the Chico area have a ways to go before winter turns into spring for real estate sales.
So, our question is...how much do we need to increase our consumption of Sierra Nevada Pale Ale before they have to go on a hiring spree?
Lawrence Yun, Chief Economist of the National Association of Realtors in an article in REALTOR Magazine states “The health of housing for the second half of the year is dependent on jobs, and on this point the picture is mixed. Although we expect GDP growth of about 3% this year, job growth will lag and we could see unemployment worsen to about 10.5% in the second quarter before it improves.”
According to the website SimplyHired, Chico has an unemployment rate of 12.3%, compared to the national average of 6.9%, and jobs have decreased in Chico by 39% since June 2008. If these numbers are true we here in the Chico area have a ways to go before winter turns into spring for real estate sales.
So, our question is...how much do we need to increase our consumption of Sierra Nevada Pale Ale before they have to go on a hiring spree?
Thanks Scott. That was informative. I'll do my part to help increase Chico's employment rate. I like "cathcy" title too.
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