Economic Growth | Unemployment Under 9%

Is this finally it?  The New York times reports the jobless rate has fallen below 9% which seems to be a subconscience hurdle holding this country back.   I wonder now if the spending will start and we will see a steady growth through the Summer.   Housing is still slow but this is a normal Winter/Spring trend and I believe this to is ready move forward.

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 March 4, 2011, 9:11 am
NEW YORK TIMES
All Signs Pointing Up on Jobs – Recovery Snowballing
America’s job engine picked up some steam last month. The nation’s employers added 192,000 jobs in February, after having added just 63,000 the previous month, the Labor Department reported today. The February number, which was about what economist had forecasted, represented the fastest job growth since last spring, when temporary hiring for the decennial Census lifted national employment.
“Economic recoveries can be like a snowball rolling down a hill, in that it takes time to get some momentum,” said John Ryding, chief economist at RDQ Economics. “People hesitate until they feel that the recovery’s durable enough, and then they have a tendency to jump in. Maybe we’re finally getting to that jumping-in moment.”
The unemployment rate ticked down to 8.9 percent, falling below 9 percent for the first time in nearly two years. This month’s numbers are much more consistent. We are told that the economy added 192,000 jobs in February. With previous figures also revised up, the total number of jobs in February is 250,000 more than what we had been told was the figure for January.
The last time the unemployment rate fell 0.9 percentage points in three months was in 1983. That was when the economy finally started to rise rapidly after the early 1980’s double-dip recessions.
An important point to remember is that almost every economic statistic has been looking up, with the notable exception of the jobs figure. Now it seems to be falling in line.
(Excerpts from article)

Home Sales Up, Prices Down & Inventory Down. Makes sense!

So many articles on the housing and what should you belive?  Although this is a lengthy article and full of too many stats, it does show to me an obvious trend.  If home sales are up, it must reflect a supply versus demand relationship as the months of home inventory are down as well.  So, there are more buyers, fewer homes.  The question becomes, why are prices down?  Well, in almost any market or product, once prices fall enough, it will eventually trigger sales and the public pulse now says it is the right time to buy, hence sales are up.  So, there is a lot to considering but we may be on the verge of a great housing recovery!

http://www.realtor.org/press_room/news_releases/2011/02/january_above?cid=WR02232011:9380&ed_rid=363872

When did the “Media” become an ad agency?

CNN posted a story today about job losses stating, “Recession job losses: Worse than first thought”.  WOW, sounds really bad and makes you want to read the article right now, just like a McDonald’s commercial, gotta have those fries now!  As you cruise through the article, it says there will be a 2009 job loss revision, for the worse. But, it also says that it is still better than 2008 and economists Lakshman Achuthan states it is normal to underestimate the job loss report “around turning points”.  So, are they really saying we are at a turning point, appears to me they are.

I understand the difficulties the media has with regards to reporting every angle of every report.  However, I am so tired of the headlines stating only what the media thinks will sell.  If doom and gloom will get us a reader over the competition, let’s run it.  In today’s era, everything is about marketing.  No more truth, no more straight answer, no more facts.  Let’s find the angle to reel you in.

Federal Reserve – Did we get an answer?

Interesting article about what Federal Reserve chairman Ben Bernanke had to say today.  It seems every article I read is “riding the fence”.  I am still not clear if we are in an economic recovery or not.  It seems any good news and the general media has a “yea but” at the end of the story.  Any bad news and the government as a “yea but”.   As usual, nobody wants to take a stand, at least not anyone with a political pulse.  

http://money.cnn.com/2010/08/27/news/economy/Bernanke_speech/index.htm

Tell me what you think?

WOW, can the press really be this negative?

WHY SO NEGATIVE?

I have been in the real estate/relocation business for years and it still amazes me how we react to the general media.  You could have nothing invested in the stock market, which most of us do not, and still we panic when there is a decline.  I often wonder how our economy would fair if we had no negative news for just one week.  It is a proven fact that a negative environment has an impact on our daily routine.  It would be difficult to start your day or end your day without the news and what is occurring around you.  However, let’s tap the breaks on the sky is falling. 

ALL IS GOOD 

The real estate business is still solid in North Texas, Dallas, Frisco, Plano, McKinney and many other areas as well.  We have been fortunate the homes values have not suffered as much as other areas.  So, let’s keep it positive!  Interest rates are at historic lows and that in itself should keep us focusing on the positive. 

Have a great day!