Despite Rebound, Job Future Not As Bright As It May Seem

With the pandemic creating an employment nightmare, the unemployment rate has been a closely watched statistic. Employment is still below pre-pandemic levels, but has rebounded fairly well. That may be giving us false hope, though, since there are other jobs-related statistics to consider. In a previous article (https://www.carlandarda.com/?p=1370) we looked at the difference between employment… Continue reading Despite Rebound, Job Future Not As Bright As It May Seem

Most Younger Generations Still Can’t Afford to Buy

Many would-be homeowners in the Millennial and Gen Z generations are going to need to wait. Despite the fact that some who wished to buy are instead renting, apartment vacancies are on the rise as 27.7 million have moved back in with parents or other relatives, if they ever left home at all. The good… Continue reading Most Younger Generations Still Can’t Afford to Buy

Job recovery will be slower than expected

Reports demonstrate record job gains in California in the last few months, nearly 700,000. But that doesn’t mean we’re actually making new jobs. It means that we lost so many jobs this year that even recovering a small percentage of them is going to look like a large number. There were actually over 2.7 million… Continue reading Job recovery will be slower than expected

Despite fierce competition, it’s not indicative of recovery

Throughout California, homes are selling quickly. 46% of homes are on the market less than two weeks. Using data from Redfin, 54% of offers were contested. The breakdown by region is 67% in the San Francisco/San Jose area, 65% in San Diego, 58% in Los Angeles, and 47% in Sacramento. However, don’t mistake this for… Continue reading Despite fierce competition, it’s not indicative of recovery

Here’s why house prices are still high despite the recession

It may seem intuitive to look at past recessions, such as the one in 2008, to predict the market during the current recession. But that doesn’t always work, since the circumstances surrounding the downturn may be different. In 2008, what caused home prices to drop was reduced buyer demand and increased foreclosures and short sales.… Continue reading Here’s why house prices are still high despite the recession

Predictions for the 2020 recession’s impact on inventory

The real estate journal First Tuesday asked readers in July how they felt the 2020 recession would impact for-sale inventory. The votes are now in. A plurality of respondents, 45%, felt inventory would go down. This would likely be a result of both anxiety from sellers and not enough construction. However, the number who instead… Continue reading Predictions for the 2020 recession’s impact on inventory

Housing Recovery Will Take Both Time and Action

According to a recent poll of readers of the Real Estate journal First Tuesday, the most optimistic recovery date from the current recession is late 2020, with 30% of respondents hopeful for a quick rebound. A quarter of respondents believe that recovery will be tied to a COVID-19 vaccine, which is predicted to arrive no… Continue reading Housing Recovery Will Take Both Time and Action

Recession Chatter

Photo by Jp Valery on Unsplash

The New York Federal Reserve Bank shows a probability of 33% for a recession to strike in the next 12 months. A recent Zillow survey of economists and other experts predicts a 52% chance of recession by the end of 2019 and a 73% chance of recession by the end of 2020. Morgan Stanley economist… Continue reading Recession Chatter