Let’s consider unemployment and the “hot” real estate market. This is a screencast where I talk through the most recent jobless figures from March 2013 by quickly showing five graphs of unemployment trends in the United States, California and Sacramento County. It’s especially good for real estate professionals to know this stuff because it makes us resourceful to clients. It’s also interesting to consider the relationship between jobs and property value too. Moreover, when we see how high unemployment still is, this underscores how a real estate market isn’t always driven by the local economy. Sometimes external forces such as interest rates and investor activity can really drive prices, right?
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Dear Ryan:
I’ve been enjoying your graphs. Many of us would be buyers wonder if current house values represent a durable value. It’s problematic to, say, look at assessor’s values for square footage in a certain area because houses have changed so much in the last hundred years. In attempting to compare apples with apples, one could look at the price of downtown lots per square foot over the last fifty years (100 years, back to 1913, would be more interesting since it would include more cycles of recession as well as the big depression). A graph with this information would be illuminating, I think.
Ricardo
Thanks Ricardo. I’d love to see a graph like that too. If you run across anything, let me know.