Job Growth is slowing in Utah, but it is still growing and unemployment is still low in Utah despite fears of recession. This is good news for the housing market as people with jobs are a lot more likely too buy real estate than those without.
Utah Homes for Sale
Market Conditions, Statistics, and Home Listings
Blogroll
Real Estate Blogs
June 17, 2008 at 4:34 pm
I live in Utah. Lots of talk of recession, gas prices, unemployment. I see thousands of high paying jobs posted by reputable employers. I beleive people can find a job if they truly look.
http://www.realmatch.com
http://www.monster.com
http://www.simplyhired.com
If you want one, you’ll get one…be positive!
June 18, 2008 at 6:41 am
Too bad 20 of the buyers just left the buyers pool. Fannie Mae and Freddie Mac are no longer letting investors have 10 outstanding loans, they have reduced it to 4 and they are only willing to finance 85% instead of 90%. Looks like a SIGNIFICANT chunk of the buyers market accorss the county is now gone. My broker friend estimated that 20-25% of buyers in Utah are investors…
… factor that in with interest rate hikes of .75 in the last couple weeks (went from 5.75 to 6.3-6.5). Now the over inflated home prices are really out of reach for the avg buyer in Utah.
Ecomomy or no economy Utah is going to be in a VERY bad situation (it already is - media just isnt reporting it).
June 18, 2008 at 6:42 am
meant to include the % symbol after the number 20… 20% is how it should ahve read
June 18, 2008 at 9:06 am
Hiring freeze in SLC
http://www.deseretnews.com/article/1,5143,700235667,00.html
June 19, 2008 at 4:27 pm
One day your a critic of the Utah housing market and next your a cheerleader. What are you trying to do with this blog?
You do make a good point. People with jobs are more than likely to buy houses IF they already don’t have a house that they are upside down on.
June 20, 2008 at 7:22 am
I’m just trying to explain the honest facts of the state of the Utah Housing market. In many aspects the Utah economy and housing market is relatively healthy. In other aspects and areas the Utah housing market has issues. It depends on which aspect the post is about…. I’m just trying to report the facts as I see from statistical evidence…
June 22, 2008 at 5:27 pm
Atrain,
Poeple with jobs are more likely to buy a home, REALLY. As per your post, there are no healthy areas in the Utah housing market. It is going from bad to worse to California/Vegas crisis. Put on your seat belt Utah is in for the same fate as our neighboring states. No Utah is not special, it has been on the same path only two years later. Any positive spin on the currnet market is a lie, and could cause uninformed readers tens of thousands of dollars. BE CAREFUL WHAT YOU WRITE!
June 23, 2008 at 7:43 am
Adam is a smart man…
June 23, 2008 at 7:57 am
RE: BE CAREFUL WHAT YOU WRITE!
Adam, you are assuming a RE agent who gets paid when people buy will steer people to the right choice (not buy- wait for prices to drop 15-30%) when that means he wont collect a paycheck until then?
The system is made to get people to buy no matter if its the smart time to or not… hell look at all the people that were duped by the NAR propaganda machine and are now bankrupt. If they didn’t do the right thing then why would they now?