Unlike last month, ADP and the government are in close agreement this month. ADP says 473,000 job losses in June and the government says 467,000 job losses.
Saturday, July 04, 2009
ADP Employment Survey graph
Here is Automatic Data Processing's measurement of the monthly job losses during the recession. Compare this with yesterday's graph of the government's job loss numbers.
Unlike last month, ADP and the government are in close agreement this month. ADP says 473,000 job losses in June and the government says 467,000 job losses.
Unlike last month, ADP and the government are in close agreement this month. ADP says 473,000 job losses in June and the government says 467,000 job losses.
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Most job looses happened in Real Estate Industry. Clearly one can see that most job looses was in March 2009.
ReplyDeleteI was talking with a friend last night who works as an appraiser. She was saying that the inventory in Manassas and PW county is gone - a shortage of houses she claimed.
ReplyDeleteA new influx of foreclosures would change all of this however - there are rumors that a number of banks are sitting on inventory that they are getting ready to unload.
The market for >1M$ homes is still really screwed up though. Tons of inventory, and not much moving. My guess is that we will eventually see some price cuts in that market as well.
"I was talking with a friend last night who works as an appraiser. She was saying that the inventory in Manassas and PW county is gone - a shortage of houses she claimed."
ReplyDeleteThats weird, cause when I do a search on real estate sites in those areas....it comes up with about 20 pages of foreclosures from $70K-$300K
The "Baltimore Metro Area Housing Blog" is another dead link on the right; it's under Regional Housing Sites.
ReplyDeleteThe link says, "Sorry, the blog at baltimorehousing.blogspot.com has been removed. This address is not available for new blogs."
The "Baltimore Housing Bubble Blog" still shows some life, last entry was May 17, 2009 but in October 2008, there were two "closing down" entries.
Thanks Ajax. I thought I checked all the sites on the sidebar, but I guess I just checked the national housing sites.
ReplyDelete"Thats weird, cause when I do a search on real estate sites in those areas....it comes up with about 20 pages of foreclosures from $70K-$300K"
ReplyDeleteTrue but there was a time when you would get about 60 pages back in that price category. "Shortage" is a relative term...
another anonymous here,
ReplyDeleteif you put in 20110 in the MRIS zip code statistics website (http://www.mris.com/reports/stats/zip_stats.cfm), it says that there are 248 active listings in the month of May 2009 and that there were 99 sales.
Most of these listings are in the <$400K price point.
Correct, but if you look up 20110 for 1 year ago (May 2008) there were 805 active listings most in the <$400 price point.
ReplyDeleteRelatively speaking, inventory has dried up.
How many real estate agents have closed shop of changed careers due to this economic downturn? Must be lots? The numbers on the graph are pretty frightening, how long is this going to take to repair?
ReplyDeleteI think it is time to seek alternatives.
ReplyDeleteDespite the crisis, cities grow in population numbers, and housing remains a necessity. How to turn that need into demand in volume for the industry and ultimately on employment ...