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Barry Ripp ~ Broker's Blog

By Barry Ripp | Broker in Fremont, CA

Real Estate Rebound coming soon ???

Economists see a rebound in September


Economists surveyed in the latest Wall Street Journal forecasting survey expect the recession to end in September.  However, the majority also believe that the economy will not begin to grow until the second half of 2010, which is when they expect the unemployment rate to go down.  

 

 

·   Many economists surveyed by the Wall Street Journal predict the labor market will remain weak.  Just 12 percent of the economists expect the unemployment rate to fall this year.  More than one-third of respondents expect the jobless rate to peak in the first half of 2010, while about half don’t see unemployment declining until the second half of 2010.  The economists do see the rate of decline slowing, forecasting 2.6 million job losses in the next 12 months, compared with 4.8 million jobs lost in the previous period.  According to Joseph Lavorgna of Deutsche Bank Securities Inc., the economy would have to grow an average of about 4 percent for six years to get back to the sub-5 percent unemployment rates seen in 2007.

 

·  Economists are seeing more signs of a recovery in the broader economy this year.  On average, the economists expect the recession to end in September, compared with the October forecast last month.  This marked the first time since the start of the recession that the economists didn’t push the date of recovery further into the future.

 

To read the full story, please click here

Well, a market rebound won't come soon enough for many people, but it's nice to hear some encouraging news. 
The rebound will come...that's for sure.

 ~ Barry Ripp

news obtained by the C.A.R. and Wall Street Journal   April 16, 2009


Comments

By Menudo Bongo,  Mon Apr 20 2009, 20:45
Ha! Ha! Another splendid display of ignorance of basic economics. Not surprising, cos it takes minimal education to become an agent.

So you are saying liars loans, Ninja loans etc will come back to create this huge demand that will make RE prices go up. The bubble was caused by lax lending standards. House prices are still very detached from incomes.

Unless there is a return to lax lending standards, or incomes (or inflation) rise to a level that make current prices look cheap, house prices are not going to be up any time soon. In fact, a protracted downturn in RE prices (lasting for decades) is the most likely scenario.
By Denise Tower,  Mon Apr 20 2009, 21:00
I am not uneducated but I didn't understand any of that economic speak. I have an inate distrust of anything with lots of numbers and letters. What was the purpose of the article and comment? Real estate is local - haven't you seen the commercials? The only thing that will help is people being comfortable with their employment situation and learning how to live without 100 credit cards, lines of credit and refinancing their houses every time the interest rate drops 1/8%.
By David & Samuel Rifkin,  Thu May 2 2013, 12:41
Thank you for this great information.

Samuel Rifkin
The Rifkin Team

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