People losing jobs left, right and center (sales, real estate)

[lets_hope_for_newbruns]

Companies that are doing good are laying off too.

I heard that IBM a size of 100,000+ employees must be planning to reduce to 30,000.


Bad , bad times are here.

Is it wise to buy a home given this time or just bring down the value of home by 30 percent.
Hope the seller understands the situation.

I think its wise for people who bought homes 20 years ago , all brand new, to sell it off and move to Florida or NC or Georgia and such places.

In this crazy times.

[Lusitan]

People are losing jobs, and more job losses are on the way, no doubt about it. Housing prices always lag behind job losses (think about it ... it's only after the job losses kick in that people start losing their homes, relocating, etc.) just as home price increases always lag behind improvements in the job market.

Prices on NJ real estate are going nowhere but down for the foreseeable future. Anyone who is thinking about buying a house now should be sure that their job is secure and that they have 6 to 12 months of emergency savings set aside (that means NOT using it to buy a house) to get them through a job loss; also a 20% down payment.

[kalim2008]

Like I said, the people here who are so jubilant about M/M increases in home sales (which is primarily driven by seasoinal changes in buying because Spring always ushers in more buying) are kidding themselves if they think a turnaround is already happening, because job losses keep piling up. It don't take an einstein to figure out people with no jobs, or people who are afraid of losing jobs, aren't going to plonk down $100k for a home. In my block alone, 3 people have lost their jobs the last couple months.

Economic Reports Paint Bleak Picture
Private sector-employers cut 742,000 jobs in March as home prices face sharpest decline on record.
http://www.forbes.com/2009/04/01/adp...s-housing.html

[JG183]

Originally Posted by Lusitan

Housing prices always lag behind job losses....just as home price increases always lag behind improvements in the job market.

using that sort of logic, let's also note that retailers are an early-stage cyclical group, meaning they're typically among the first to turn higher after a recession.

Sector leaders starting to emerge - MarketWatch

the upturn is several months away, but it is coming...

[stevemorse]

ohh my, turn this into another HOME thread!!!! Your obsessed!! Jobs people that is the topic, we have alot of homes declined and going down the drain threads. We get the point.

[Lusitan]

Originally Posted by stevemorse

ohh my, turn this into another HOME thread!!!! Your obsessed!! Jobs people that is the topic, we have alot of homes declined and going down the drain threads. We get the point.

Chill, stevemorse. The OP asked:

"Is it wise to buy a home given this time or just bring down the value of home by 30 percent."

If you don't like the questions being asked by the originator of the thread, perhaps you should move on to another thread ...

[Kapalua]

I have noticed you cant ask questions and you cant express your opinions on these forums, it is like it is controlled, I do not like ths place, they tape up your mouth for simple questions when I asked about radon like I did something wrong. WELL the global elites run and control this so-caled government, NAFTA was put in place by them, Read, THE BILDERBERGERS find the real facts as to what is going on, THIS IS THEIR SET UP to ship out the jobs, and still HIRE IMMIGRANTS were and BILLY GATES lies to congress we dont have skilled workers, it is all a set up and that is to bring in their NEW WORLD ORDER... READ ONLINE about THE AMERICAN HALLUCINATION... I hope I dont get BANNED for tellling the truth

[wileynj]

My theory - people are losing jobs because employers are trying to dump their over-paid people so that they can replace them with cheap foreign labor : ) Ok, or people, Americans who are highly qualified, unemployed and desparate and will do the same job for 1/2 the salary.

[Lusitan]

Originally Posted by wileynj

My theory - people are losing jobs because employers are trying to dump their over-paid people so that they can replace them with cheap foreign labor : ) Ok, or people, Americans who are highly qualified, unemployed and desparate and will do the same job for 1/2 the salary.

Don't forget about the non-Americans who are here taking jobs that "American's won't do" ...

[colleeng47]

Originally Posted by Kapalua

I have noticed you cant ask questions and you cant express your opinions on these forums, it is like it is controlled, I do not like ths place, they tape up your mouth for simple questions when I asked about radon like I did something wrong. WELL the global elites run and control this so-caled government, NAFTA was put in place by them, Read, THE BILDERBERGERS find the real facts as to what is going on, THIS IS THEIR SET UP to ship out the jobs, and still HIRE IMMIGRANTS were and BILLY GATES lies to congress we dont have skilled workers, it is all a set up and that is to bring in their NEW WORLD ORDER... READ ONLINE about THE AMERICAN HALLUCINATION... I hope I dont get BANNED for tellling the truth

I think it's time to double your dose.