I was watching GMA this morning and they did a 2 minute blurb on where we are 1 year after the crash started. They had experts to represent 3 areas: stocks/growing your money, housing, and the job market.
The summary is that in each of these areas the experts say we are in recovery.
The unemployment rate apparently lags the recession so, last year we were at 6.2% and now we are at 9.7%. The number of unemployed has decreased significantly in the last few months.
The stock market is down 16% from 1 year ago but, according to the chart they showed, the market was down by over 30% a few months ago and it continues to get closer to where it was a year ago with each passing month.
The housing market report said that existing home prices are down 15.1% from last year at this time. We are in recovery mode and the decline has slowed significantly and they said that in 1 year from now it will be VERY clear that the market is better.
Again, this was a 2 minute segment that they did. I didn’t have a chance to get the experts names down. All of these reports, of course, were national.
The housing market report was, again, reassurance that the bottom did indeed hit a few months ago. Especially the real estate market here in Maryland where we weren’t hit as hard as real estate in other states and Maryland continue to be a very transient area.
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Filed under: Real Estate Market Tagged: | Real Estate
