unemployment: Atlanta Weekly News Update
- 08/06/10 12:40 PM
Atlanta Weekly News There are always news stories that we seem to miss on theevening news, and when we hear them they are old news. I decided to post a few pertinent stories in the Atlanta news and Spotlight for this week. Perhaps if noting else it may spark some dialog, debate, and conversation with friends, associates, neighbors or a topic of discussion at your next BBQ! The news stories shared are not limited to Georgia, but are timely topics, in the news and current events.
ATLANTA NEWS FRIDAY AUGUST 6, 2010 $1.6B in Atlanta real estate loans are delinquent - … (18 comments)
unemployment: Buy American - Support One Another!
- 02/15/10 02:15 AM
Do you remember when a toaster or a coffee pot was made in the USA, and it lasted for 15 years? Remember that last glass of orange juice you drank, was the juice you drank from oranges grown in the USA? Do you read labels? You should! Look at the produce before you buy it. Most brands of orange juice right now are using juice from outside the USA. Why? It is chaper. Lower wages, no benefits for workers, no child labor laws and bigger profits for the company! In a regular suppermarket I recently noticed that peeled garlic in the supermarkets is … (22 comments)
unemployment: Georgia Unemployment Rises
- 01/17/10 12:02 PM
Georgia Dept of Labor reported Friday January 15th that 100,896 laid-off workers filed new claims for Georgia unemployment insurance benefits in December. An increase of just about 40% from the previous month, and a drop of 21.6 percent from December 2008. According to the GA Dept of Labor most first-time claims filed were in manufacturing, construction trades, and adminstrative services. The length of time jobless GA workers drew unemployment insurance benefits in December now stands at 15.3 weeks -- the longest duration on record. In December 2008 it was 11.6 weeks. … (6 comments)
unemployment: What Will The New Year Really Bring?
- 01/03/10 08:48 AM
I know many like to be the eternal optimists but it really isn't a good idea to jump out of a plane without a parachute at 20,000 feet even if you think things will turn out OK. We still live in an economy that is in flux. One should question if we've hit bottom yet, and we should all acknowledge that there is a lot of collateral damage and uncetainty that lies just ahead of us. Our National, state and local governments still have to deal will major shortfalls in taxes and revenues. That has a direct impact on the inhabitants … (16 comments)
unemployment: Is the Economy Really Recovering?
- 12/27/09 02:24 PM
Despite still historic lows in mortgage rate buyer demand is still actually pretty lean. There were a lot of surprised faces when new home sales suddenly shows an 11% drop in the last week. Unemployment never really abated as planned in the US when the "Cash for Clunkers" had more Americans buy foreign cars than American cars to the tune of 80%! (Even though foreign countries banned the purchase of cars not made in their own countries!) How absolutely foolish we were as a nation! Diminished auto inventory did not bring hoards of Americans back to work to the assembly lines … (2 comments)
unemployment: What's Really Behind Less Home Inventory?
- 11/09/09 12:39 AM
There is no surprise across the nation that the inventory of the number of Atlanta homes for sale is down considerably. While many in real estate are rejoicing in the streets over this supposed sign of recovery, they are not allowing themselves to consider why this has really happened. It is not an anomaly, and it does not mean that the lack of inventory bodes well for the near future of Atlanta real estate. For those that are informed, there is an acknowledgement that Atlanta home buying patterns are being refined and will not return to what many in real estate … (23 comments)
unemployment: Georgia Unemployment Rises to 10.5%
- 10/22/09 10:21 AM
Georgia Department of Labor just released the most recent Georgia unemployment statistics today. It confirms that Georgia is losing jobs at a much quicker rate than the rest of the nation. The metro Atlanta unemployment rate now stands at 10.5% up from a revised 10.3% in August. Atlanta metro job losses are up 5.9% from last year. The state average is 10.1% which is a big jump from the same time period last year when the unemployment rate was at 6.7%. This is 23 months that the Georgia unemployment rate is above the national average. Last year the state average stood at 5.9%. The … (19 comments)
unemployment: Georgia’s Unemployment Rate Remained at 10.1% in September
- 10/15/09 02:02 PM
A Georgia 10.1% unemployment rate is a good news bad news story looking to comparing the lessors of two evils. Recent news releases from the GA Department of Labor for September pegs the Georgia unemployment rate at 10.1% which was the same as August. A sigh of relief I am sure was had by all that it did not get any worse. However double digit unemployment is not good and places a lot of pressure for future mortgage delinquencies, and more pressure on local small businesses and already burdened banks and community banks. … (6 comments)
unemployment: Where are Atlanta Home Buyers?
- 06/14/09 10:12 AM
I have been in real estate long enough to realize that we had a "Dry Spring" market. It was not business as usual in Atlanta real estate. The spring market was a non event. Yes in some markets they are touting sales are up, but they neglect to share the fact they are still way off their normal highs, and that home prices in many areas of the nation are in free fall. More sales is great news if prices remained stable or rose! A fire sale in home prices is not good news. That leaves home sellers are wondering where are … (10 comments)
unemployment: Georgia's Unemployment Level Hits New Highs!
- 03/21/09 02:09 PM
Georgia's unemployment level hit new highs this Thursday when the Georgia Department of Labor released that latest GA state unemployment statistics. As of Thursday Georgia' adjusted unemployment rate rose to 9.3 percent in February 2009. This is the highest unemployment rate ever recorded in Georgia. The previous all time high was in January when it stood at 8.5%. Last year in the same time-frame, Georgia's unemployment stood at 5.1%. There are now approximately 445K seeking employment, while only about 36% are receiving benefits. This is not good for Georgia's real estate market that is already inundated with foreclosures and home owners that in … (2 comments)
unemployment: Real Estate Crisis Part 2 - What are Your Thoughts on this Story?
- 01/23/09 12:25 PM
I was searching Google News Stories this evening about 'real estate' and came across a very interesting article. It makes sense economically. The name of the article is "Another real estate crisis is about to hit!" This time it will the collateral damage of layoffs. It was written by By Paul Craig Roberts who has incredible credentials (Former Assistant Secretary of the Treasury, Associate Editor of the Wall Street Journal, and He was awarded the Legion of Honor by French President Francois Mitterrand.) The basis of the story is really how we live in America, too much credit, and not enough savings. As savings … (24 comments)
unemployment: Job Stimulus Plan - Where is All the Money Going to Come From?
- 01/10/09 07:18 AM
I have been reading several stories this week about the new job stimulus plans. It is really a bunch of baloney. Have you noticed that each day the number changes and grows higher? Where do all the boys at the country club we call "Congress" think the money is going to come from? I take this projection very lightly, after all...Congress caused this entire mess we are in. Lack of Federal oversight, no investigations, no indictments,, no censureship or investigations in to Congressional memberships, no enforcement of ethics etc. A real "Good old boys club!" When Congress passed NAFTA, they said … (17 comments)
unemployment: Foreclosure Storm Ahead?
- 12/11/08 12:44 AM
You thought the storm was almost over! Guess again! Has anyone read this article that is currently on Google Foreclosure Storm Ahead? It is in today's business news this morning about a "Foreclosure Storm Will Hit US in 2009 as Loan Changes Fail"? Many in real estate forget the fact that there are foreclosure moratoriums - state and federal governments mandated artificially a pause in taking on new foreclosures. These are legislatively enacted laws that forestall the foreclosure process. The problem isn't fixed by doing this; all it does - it postpones the inevitable. Mortgages that are not paid are in … (32 comments)
unemployment: Foreclosure Storm Ahead?
- 12/11/08 12:43 AM
You thought the storm was almost over! Guess again! Has anyone read this article that is currently on Google Foreclosure Storm Ahead? It is in today's business news this morning about a "Foreclosure Storm Will Hit US in 2009 as Loan Changes Fail"? Many in real estate forget the fact that there are foreclosure moratoriums - state and federal governments mandated artificially a pause in taking on new foreclosures. These are legislatively enacted laws that forestall the foreclosure process. The problem isn't fixed by doing this; all it does - it postpones the inevitable. Mortgages that are not paid are in … (0 comments)
unemployment: Unemployment Levels Rise Rapidly - Are There Lessons Here?
- 12/06/08 06:10 AM
I was listening to National Public Radio this morning and caught a few tidbits of news. I purposely have been avoiding listening to the news recently because the economic data is so bad. This morning I was shocked to hear that the rapid rise in unemployment in yesterdays news was more than epic. It was the worse set of statistics ever released on unemployment in the 125 year history of the Bureau of labor Statistics history. That says a lot. We lost over 533,000 jobs alone this November. When you consider the average unemployment check is not large enough to pay your mortgage, taxes, … (14 comments)
unemployment: Real Estate Markets Post Elections
- 12/04/08 01:10 AM
I was curious how all the real estate markets have been doing since the elections. I want to seperate hype from fact. This is not a political question, but a real estate volume of business question. Where are the buyers? Are agents that were doing bus tours of forclosed homes still doing so? I have personally noticed that inquiries have all but ceased. Some of this is seasonal and not so abnormal for this time of year, but I also feel the slower buyer traffic is due to the gyrations of the stock market, the fear of layoffs etc. This prolonged … (27 comments)
Atlanta Weekly News There are always news stories that we seem to miss on theevening news, and when we hear them they are old news. I decided to post a few pertinent stories in the Atlanta news and Spotlight for this week. Perhaps if noting else it may spark some dialog, debate, and conversation with friends, associates, neighbors or a topic of discussion at your next BBQ! The news stories shared are not limited to Georgia, but are timely topics, in the news and current events.
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