Unemployment is now at 9.8%...so when you go to the store this weekend, count all the people... nationally that 10th person is unemployed. And it won't improve for a while. We've lost so many jobs that if we added jobs at the rate we did from 2002 until 2007, in 5 years we'd still be at 7-8% unemployment. I count my blessings EVERY day. But, don't let this get you down... the Atlanta market is one of the BEST in the nation for housing....and speaking of housing -- which in my opinion will lead us out of this recession -- we have some good news.....
The Case-Shiller Index came out this week and while house prices nationally show a decline from 2008, the month to month stats show a majority of the cities have home prices maintaining or increasing in value. So house prices are starting to go back up. In other good news for housing, pending home sales came in far above expectations as people take advantage of the First Time Homebuyer Tax Credit. And there is strong sentiment in DC that this program will be extended for six months. Email or call your senator or representative!
This week, because of unemployment and a week economy, rates dropped again into the 4's, ranging between 4.5% and 5.25% depending on credit, points and program.
For Further Questions feel free to contact us.To check Your Local Market Data go to Your Market Snapdshot CheckOut the latest Douglas county happenings and for further information about Metro Atlanta. If you have a Real Estate need in Atlanta trust the Full time Local professionals at Team Renton Keller Williams. For Free Home Search for Douglasville or Metro Atlanta go to http://www.servingdouglasvillehomes.com
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Perhaps not. Perhaps that 10th person who is now unemployed is not going to the store. Perhaps they are saving every dime possible to get through the unemployment time. Perhaps they are out looking for a job.
Of course if it's a grocery store, they'll be there buying less than before they lost their job.