As many of you know the unemployment rates came out this morning. The big news for the day is on a national level we are at 8.5% unemployment. It is still yet to be seen the effect this is going to have on the market rally we have been experiencing the last several days. The dow currently is down 70 points..
The debate is on between the economists. The rally that we have been experiencing, is it a false sense of reality. With the increase of unemployment, and inflation how can we have a market rally? One of my favorite blogs to read has a great article about the current situation.
The positive, Utah’s unemployment is staying consistent at 5.1%. So we are behind the national average. We continue to have one of the best rates in the country. This means our economy on a local level is staying strong. I would interpret these number to indicate we are going to ride the storm a little easier than some of the states?
If you are intersted in reading more info check out..
http://www.doctorhousingbubble.com/
I SHALL NOT PASS THIS WAY AGAIN
Through this toilsome world, alas!
Once and only once I pass;
If a kindness I may show,
If a good deed I may do
To a suffering fellow man,
Let me do it while I can.
No delay, for it is plain
I shall not pass this way again.
Lesson: Life is very short, and we only pass through mortality once. Let us all be sure that we take every opportunity to show some kindness to another person each day.
My father sends me an uplifting thought every day. I found this one particularly pertinent to the situation we find ourselves in today. In a time where life can seem very difficult and depressing, it is important to remember our time here is short. We should make the best of it, even when staring adversity in the eyes. If we spend our lives with frowns on our faces, we will look back and have regret. If we take time to enjoy and be happy for the simple things life will seem so much better. So on this very snowy day here in Salt Lake City, UTAH. I wish you and yours the best..
I found this article very interesting. I was reading on KSL.com and stumbled on this, I thought it was funny since we have been saying this for the last couple months now.. It always takes mainstream media to come out and say it before the masses believe.
The article is talking about how low interest rates are right now. We all watch the media so we understand that real estate prices have dropped significantly. With low Real Estate prices, and low interest rates it is a perfect time for some of those renters or first time home buyers to take the plunge. Real estate in Salt Lake City, UTAH has been effected in the down turn of the economy. Prices in Salt Lake have dropped. Affordable housing is here, something people don’t realize is that when the economy levels off things will change. Now before everyone disagrees with me, I did not say real estate prices will go up.. I said things will change, and more specifically interest rates will change. As I posted a several days ago, several economist throughout the nation are predicting interest rates will hit 8-10%.. So as many people say they are going to wait to see prices drop even further, in turn they are going to see prices stay where they are at, and their interest rate will have gone from historically low to 10%.. We have to have an increase to combat inflation that will inevitably come due to the circumstance we find ourselves in. I would love to hear some of your thoughts on the matter.
What a roller coaster! Talk about a time you really don’t know what to believe. Every single day we are seeing different reports. One guy is saying we haven’t seen the worst of it yet, others saying the bottom is here. So what do you believe? First of all, I think we are all entitled to our opinion.. So I would love to hear your thoughts, and maybe a few examples to support them.
Fact, Real estate in Salt Lake City has seen a 62% increase in under contract over the last 2 months. The would equate to people spending money? Fact, we can not take broad national statistics and apply them to individual states. So therefore I will pay attention to Utah, as I live here. I continuously find articles referring to real estate which quote broad statistics. I in turn get many questions from consumers about them. The best example I use to help people understand is the Unemployment rate. The Unemployment rate is different in every state correct? Currently Utah’s Unemployment rate is at about 5%. Where some of our neighboring states are seeing 8-10% (Nevada & California).. Real Estate is very similar, obviously homes in Souther California will have seen much more dramatic drop compared to Real Estate in Sandy UTAH..
Now, have we seen the bottom? I think many of you have probably noticed the up swing in the DOW. We saw a 12 year low on March 9, 2009. Since then we have seen a rally of 18.6% in the market. Does this mean our worries are over? No Way.. Just means perhaps there is a reason to hope. We are still seeing the private sector shed thousands of jobs. This is going to effect the consumer. But, just maybe the bottom is here and we all realize the world is not over and we need to keep moving ahead.. Just a thought!
Tonight is the Home Game opener for our great “Real Salt Lake” Soccer team.. If you are interested in getting Tickets you can purchase them at..
The new stadium is spectacular, if you have not seen it you need to go check it out. You can also check out all of the upcoming events that will be coming to the Stadium. The Rio Tinto Stadium will be holding concerts, sporting events, and many other exciting events..
Ok, I have had tons of inquiries on concerts and events in the Salt Lake City, area. So if you know of any underground concerts I should post shoot me an email, and I will post it. spencer@utahcribs.com.. Dane Cook is coming to Salt Lake City, in May.. So everyone buy tickets now…
Dane Cook
The E-Center of West Valley City
West Valley City, UT
Thu, May 21, 2009 08:00 PM
www.ticketmaster.com has more tickets for the upcoming Brittany Spears concert next week..
Britney Spears
EnergySolutions Arena
Salt Lake City, UT
Tue, Apr 14, 2009 08:00 PM
This duplex would be perfect for the first time homebuyer looking to get a good investment. Live in one side and keep the other rented. Your monthly principal and interest would be around $700 using conservative numbers (assuming you picked it up at list price, put 3.5% down, and got a 5.5% rate). Each unit has a one car garage and it is in great condition in a great neighborhood. Let us know today if you’d like to see it. Thanks!
