East Bay Employment numbers, January 14, 2010
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Jobs, Jobs, Jobs- that’s how we will exit this recession/recovery! Unfortunately, the numbers from the East Bay Economic Development Alliance indicated a protracted stay in this recovery trench. The trend is headed in the wrong direction, thankfully, the total loss of jobs for the East Bay was only 400. Read the full report .
By my last rent survey, apartment rents are holding and vacancies are being held to a minimum, roughly 8%. I have not heard of anyone pushing rents. The commercial real estate market is very dependant on jobs. Jobs create Economic Confidence, something that is lacking in today’s economy. Economic Confidence gives consumers the faith that they will be able to pay for goods and services. The good news for apartment owners is that there are more apartment dwellers than home seekers. The question is will they pay the rent?
If you or someone you know is looking to buy apartment or commercial real estate or just one commercial property OR if there is a consideration to learn more about group investments in commercial real estate please contact me. I can be reached via email at Pete@CommercialMasterMinds.com or just call (925) 719-3569
To learn more about my background, visit Consult Pete. To learn more about my company services, visit Commercial MasterMinds.
Continued Success, Pete
By any measure the economic recovery of 2010 will be a painfully slow process.The major concern for all us is jobs,jobs, and jobs.This is the most fundamental and basic connection for most Americans to the economy.It provides our livelihood,our well being, our status and identity in society.It is also the driver for real estate, consumer goods,etc etc–nearly 70% of the economy.
When the GDP goes up and job growth does not occur most of us wonder where is the recovery? One of the charecteristiqs of a market economy is that job growth always lags production growth (GDP).In this recovery the lag is longer than usual as the recent recession was one of the worst in our history. I do not expect any significant growth in jobs till mid 2010.That means lukewarm economic growth in 2010.
Tapan Munroe