U.S. Employment Grows Three Months in a Row Adding To the Economy's Overall Strength

Good news on the nation’s employment numbers! MSNBC.com and wire reports (Click here for the full article) are reporting that February marked the third straight month that the U.S. employment rate grew. Payrolls have grown by more than 200,000 for the last three months. The Labor Department reported Friday that employers added 227,000 jobs last month, while the unemployment rate had no change at 8.3%. 

What does this mean for the economy as a whole and the housing market? Top economists are saying that the U.S. outlook is improving and they are predicting that the jobless rate could fall below 8% by November of this year. In my opinion the best news is that the growth in February came 100% from the private sector. The private sector is usually the first to go into a recession and it would make sense that they are the first out.

The bottom line is that the U.S. economy appears to be slowly climbing out of one of the deepest recessions in our nation’s history. The result of improving employment numbers coupled with banks slowly easing up on lending, means a stronger housing market.

For further information on the home buying process or selling process, contact Todd Adams at 503-332-5227 or visit Home Search

Housing Crisis to End in 2012?

I am asked this question all the time by clients and my colleagues, when will the housing crisis end?! Krista Franks of DSNEWS.com back on 01/24/2012 (For complete article click here) pointed in her article to the findings of the analytics firm, Capital Economics, who directed their attention to these three indicators: loosening credit, stabilization of mortgage lending standards, and the loosening of loan-to-value ratios by banks.

 

Yes, the loosening of credit by the banking industry will help the housing industry. Yes, the stabilization of mortgage lending standards is a good sign. Yes, the loosening of loan-to-value ratios will help make it easier for buyers to qualify for loans.

The banking industry is giving the longest green light we have seen in recent years. Buyers, who have been getting their ducks in a row, will find that it is paying off with banks that are more likely to give credit approvals. The housing market in 2012 is looking up!

For further information on the home buying process or selling process, contact Todd Adams at 503-332-5227 or visit Home Search