I have a guest post up today entitled “Is unemployment tied to Sacramento real estate” on Sacramento Real Estate Voice. Thank you Gena Riede for inviting me to post. Go check it out and give it some love. The post really focuses on sales and unemployment rates over the past few years in the Sacramento area and takes a specific look at Folsom, Galt, Rancho Cordova & North Highlands. Here is an example graph from the post. It’s amazing to me to see figures like this.
Visit my guest post HERE. Thanks so much.
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Always glad to have quality articles on Sacramento Real Estate Voice, Ryan.
Thanks so much, Gena. 🙂
I think you are misreading correlation with causation. The real driver for lower prices is a bigger inventory of foreclosures in the market and lower demand because of tighter mortgage controls.
I mean everything is related, and unemployment certainly doesn’t help, but I don’t think that would drive prices the way things more related to the actual real estate market would.
Thank you for the comment. I don’t think unemployment is the driving force in the market. I don’t recall saying that. The post simply shows unemployment and sales together. I think there is a point to be made here. If unemployment was at 5.0% right now, what changes might we see in the market? How might a significant decrease in unemployemtn impact affordability and foreclosure rates? There is definitely a connection or “tie” between the health of the real estate market and unemployment, but I don’t think it is the factor. I agree with you on some of the things you mentioned that drive the market. Thanks so much.