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2010 Median Home Price: $320,000 based on 3,759 sales
2011 Median Home Price: $320,000 based on 3,230 sales
Condominiums:
2010 Median Home Price: $303,750 based on 618 sales
2011 Median Home Price: $305,750 based on 470 sales
It does look like we have reached bottom, at least in Essex County, unless something new changes things. Jobs numbers are now improving also. Should be an interesting Spring and Summer to see if the data holds.
I've noticed a lot more homes pop up for sale this winter also, which I could interpret to mean people are seeing the trends and believe they have better chances to sell. I guess it could also mean people are in trouble and need to sell, but they aren't those types of homes.
If these two homes near my house could sell, my immediate area would be in fairly good shape. One is a short sale that's been on the market for nearly 2.25 years now though. Really wish someone would buy that one already, as it seems to be hurting the prospects for the house 2 doors down that's for sale and is quite nice.
It is easy to have improving job numbers if you don't include the frustrated people no longer counting as looking for work. Check the labor participation rate and tell me job numbers are improving.
It is easy to have improving job numbers if you don't include the frustrated people no longer counting as looking for work. Check the labor participation rate and tell me job numbers are improving.
Need to look at everything. Yes, more discouraged workers is bad. But the number of people employed is at a 3-year high -- that is good.
how does that factor in with the natural growth of the labor force? everyone is trying to spin the numbers one way or another, its hard to get an honest interpretation from either side.
It is easy to have improving job numbers if you don't include the frustrated people no longer counting as looking for work. Check the labor participation rate and tell me job numbers are improving.
I dont know anybody who stopped looking for work if they needed a job.... If you do that and have no way to support yourself, I don't even know what to say because that is extremely irresponsible.
If it becomes easier for those actually seeking employment to get a job, i am all for it and I think its a good thing.
We also need to consider the labor force is going to be naturally shrinking. Baby boomers are reaching 65 (as well as 62). World war 2 ended 67 years ago this month. Consider 9 months of pregnancy and do the math
I dont know anybody who stopped looking for work if they needed a job.... If you do that and have no way to support yourself, I don't even know what to say because that is extremely irresponsible.
If it becomes easier for those actually seeking employment to get a job, i am all for it and I think its a good thing.
We also need to consider the labor force is going to be naturally shrinking. Baby boomers are reaching 65 (as well as 62). World war 2 ended 67 years ago this month. Consider 9 months of pregnancy and do the math
leaving the work force can happen in different ways, not all being irresponsible. you can have early retirement, women deciding to become stay at home mothers, people going back to school, etc.
things seem relatively stable in the world right now, but all that can change fast.
i know the baby boomers retiring will be taking from the work force. also, i know that every year people graduate school and start working. im not sure what each number is at this point.
It is easy to have improving job numbers if you don't include the frustrated people no longer counting as looking for work. Check the labor participation rate and tell me job numbers are improving.
labor participation rate is dropping for a number of reasons. one is that boomers are retiring. another is the 2010 census data updated the BLS statistics. the job number has improved, but it needs to get better, no doubt.
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