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Old 08-16-2008, 01:23 PM
 
Location: America
6,993 posts, read 16,025,080 times
Reputation: 2083

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Seems we are in the top tier for the nation in foreclosures, home price declines and now unemployment rate.

Have any of you guys thought of contingency plans if things get really bad for you in S. Florida? What have some of you guys thought of doing? For me, I am trying to find a job back home. If I were to lose my job I would leave with out a job and prepare for the worst.

link
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Old 08-16-2008, 03:28 PM
 
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Your 100% right, but here is the only issue; where you gonna go that's better or doesn't have it's own problems? There is a looming WORLDWIDE recession. The unemployment rate in FL is still barley above the US average, Broward to my knowledge is still either at or below the national average. We aren't anywhere near "tops" in unemployment rate. You can move to Charlotte where the real estate market is growing, but their economy is heavily based on banking (screwed) and the unemployment rate is even higher, just for one example.

The only place that looks good right now is Texas...really good...
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Old 08-16-2008, 05:11 PM
 
Location: America
6,993 posts, read 16,025,080 times
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Quote:
Originally Posted by compelled to reply View Post
Your 100% right, but here is the only issue; where you gonna go that's better or doesn't have it's own problems? There is a looming WORLDWIDE recession. The unemployment rate in FL is still barley above the US average, Broward to my knowledge is still either at or below the national average. We aren't anywhere near "tops" in unemployment rate. You can move to Charlotte where the real estate market is growing, but their economy is heavily based on banking (screwed) and the unemployment rate is even higher, just for one example.

The only place that looks good right now is Texas...really good...
State of Florida seasonally adjusted unemployment rate for July was 6.1 percent
link

Broward County’s
unemployment rate in July was 5.8 percent
link

U.S. unemployment at 5.7%
link (broken link)

The world recession and Charlotte are inconsequential here. It is bad everywhere yes, however some states will be better for certain people than others. Let me explain. Lets say you came from Chicago to Florida. You moved here, lost your job, bills are piling up. You go back to Chicago, move in with family, split the bills and get on your feet. This is ONE strategy some people can do. So that's my point, what strategies are people going to pursue to ensure they can survive this downturn. this really isn't about who is doing better than who as far as states/cities are concerned. Some will fair better than others. Florida is not going to do well in this, it is what it is. Now, will it be able to come up with a strategy plan to diversify itself and rise up from the ashes, that's a different conversation.
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Old 08-17-2008, 11:55 PM
 
29 posts, read 93,148 times
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How's the timeshare business doing in FLL?
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Old 08-18-2008, 02:30 AM
 
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It's looking a lot worse in the NYC boroughs...

http://www.nytimes.com/2008/08/17/ny...=1&ref=thecity
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Old 08-18-2008, 05:50 AM
 
Location: Houston, TX
4,678 posts, read 8,944,869 times
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Quote:
Originally Posted by compelled to reply View Post
The only place that looks good right now is Texas...really good...
Everyone found that out 6 months ago and the place is getting overpopulated.
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Old 08-18-2008, 06:48 AM
 
Location: America
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Quote:
Originally Posted by fauve View Post
It's looking a lot worse in the NYC boroughs...

http://www.nytimes.com/2008/08/17/ny...=1&ref=thecity
New York City's seasonally adjusted unemployment rate was 5.0 percent in July 2008
link

Not as bad as Broward but not good either. But I question those numbers for NYC. It was 5.3 in June, 5.2 in July and 5.0 at the end of July. I wonder if people are leaving the city which would account for the fall in jobless claims.

Quote:
Originally Posted by TNRyan23 View Post
Everyone found that out 6 months ago and the place is getting overpopulated.
What is the unemployment rate for Nashville? I tried to look for Davidson County but was unsuccessful in finding anything meaningful.
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Old 08-18-2008, 08:48 AM
 
8,376 posts, read 28,695,295 times
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Quote:
Originally Posted by TNRyan23 View Post
Everyone found that out 6 months ago and the place is getting overpopulated.
Look where you live to see where is really getting crowded. Texas has way too much room to get crowded anytime soon.

Quote:
Originally Posted by Wild Style View Post
[font=Arial, Helvetica, sans-serif]New York City's seasonally adjusted unemployment rate was 5.0 percent in July 2008
link

Not as bad as Broward but not good either. But I question those numbers for NYC. It was 5.3 in June, 5.2 in July and 5.0 at the end of July. I wonder if people are leaving the city which would account for the fall in jobless claims.
How is 5.0% a bad number? Historically that is still very low for NYC. Now once you start getting into the high 6 range like PBC, then you know there is something going on...that city was wobbling between 7-10% throughout the 90s which was considered generally to be a "good" time. Dig through the BLS website, lots of accurate current and historical data as reported by the states and cities.

http://www.bls.gov/LAU/#tables

As far as the faster growing, supposedly "high wage" states, TX and VA are the place to be. I respect anyone who complained about the low wages here but didn't follow the sheeple to North Carolina and Tennessee.

Last edited by compelled to reply; 08-18-2008 at 09:01 AM..
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Old 08-18-2008, 09:49 AM
 
Location: America
6,993 posts, read 16,025,080 times
Reputation: 2083
Quote:
Originally Posted by compelled to reply View Post
Look where you live to see where is really getting crowded. Texas has way too much room to get crowded anytime soon.



How is 5.0% a bad number? Historically that is still very low for NYC. Now once you start getting into the high 6 range like PBC, then you know there is something going on...that city was wobbling between 7-10% throughout the 90s which was considered generally to be a "good" time. Dig through the BLS website, lots of accurate current and historical data as reported by the states and cities.

Local Area Unemployment Statistics Home Page

As far as the faster growing, supposedly "high wage" states, TX and VA are the place to be. I respect anyone who complained about the low wages here but didn't follow the sheeple to North Carolina and Tennessee.
No, the 90s was not generally a good time for NYC. That was a recessionary period followed by the recovery of that period. Hence the high unemployment numbers. As I have said many times, digging through data means nothing with out look at the factors behind that data. Thats like quoting the number of Chinese on opium back during that epidemic without look at the factors as to why.
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Old 08-18-2008, 09:52 AM
 
8,376 posts, read 28,695,295 times
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Quote:
Originally Posted by Wild Style View Post
No, the 90s was not generally a good time for NYC. That was a recessionary period followed by the recovery of that period. Hence the high unemployment numbers. As I have said many times, digging through data means nothing with out look at the factors behind that data. Thats like quoting the number of Chinese on opium back during that epidemic without look at the factors as to why.
While I understand where you are getting at, I don't understand how we can say it's so awful right now if that is the case (talking about NYC here not Florida). It's a slowdown, not optimal conditions but not recession. I thought the 90s (1993 and forward) was a recovery period from the late 80s/early 90s recessions(s) and considered to be "good"?

Florida IS in a recession, shedding jobs and shrinking GDP, and it's proven by what? The facts. And if we were talking about Opium in China in a slight increase in usage, but we had a crowd of people saying it's the worst in history, would it be inappropriate to reference to the epidemic?
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