Got a Job?
The Conference Board released their “Employment Trends Index” yesterday and it is declining faster than at any time since the 1974 recession. The decline suggests there will be considerable job losses for the next several months.
This further supports our January forecast that local home values will decline for all of 2009. Real estate values will reach a bottom 6-9 months after the economy bottoms. And we do not expect the economy to bottom anytime soon.
If you are contemplating selling your home, do so soon. Or plan to wait 4-7 years to sell at today’s prices! If you are thinking of purchasing a home, make sure you have solid advice on how to best take advantage of the current “buyers’ market”.
Jeff Stricker & Steve TenBroeck