Toll sees first increase in orders in 2 years. (sales, foreclosures)
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I see a lot of things leveling off in all areas. The question is do we stay here for awhile then start climbing back up OR do we end up slipping off the cliff side again and plummet to a new low?
Both seem very feasible. If things start getting better and companies start hiring people again even if at lower wages then I can see a nice slow recovery.
If companies continue to hold off on hiring and all the people on unemployment start to get cut loose off of that income and still are unemployeed than things are going to be ugly. I am sure the Gov't will extend unemployment a tad longer later this year but by years end there is a WAVE of people that will be getting cut loose and as we go into next year it can get pretty ugly if jobs don't start popping up...
Also doesn't help foreclosures continue to rise, consumer spending is rising/dipping all over the place, job losses continue to go up/down weekly. Very fragile time right now. Hopefully things work out and we bust out of this recession now versus things getting worse.
Foreclosures are not on the rise, they are reported with a lag. The unemployment rate in NJ is slightly below the national average. Things in South Jersey stabilized a long time ago. I doubt prices are headed up substantially anytime soon but I would not be surprised to see prices creeping up in the local area.
Foreclosures are not on the rise, they are reported with a lag. The unemployment rate in NJ is slightly below the national average. Things in South Jersey stabilized a long time ago. I doubt prices are headed up substantially anytime soon but I would not be surprised to see prices creeping up in the local area.
And not sure how things are expected to get better with 9+% of people out of work and NO JOBS to be had. Unemployment can only run for so long to keep those peoples head above water.
[quote=NatasNJ;10255748]I see a lot of things leveling off in all areas. The question is do we stay here for awhile then start climbing back up OR do we end up slipping off the cliff side again and plummet to a new low?
There is temporary housing stabilization in the spring/summer of 2009 as was in 2008. Nothing new. Wait for the leaves to start falling.
Higher unemployment will bring another leg down later this year. Foreclosure went up in July. Retail is down.
Retail sales is a notoriously volatile series. It was the first decline in three months. However, excluding gasoline, retail sales actually rose 0.1% led by autos. This recovery will be choppy as is typically the case.
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