Compare '70s to now and compare housing cycles.
The current drop in housing sales volume might look a little different when you put it in the perspective of previous real estate markets. Nationally, the 1970's-80's had a 48% decline in sales and a 2% decline in jobs, compared to today's 9% decline in housing sales and 1% gain in jobs. This information from David Lereah of the National Association of Realtors (now having its annual conference in New Orleans)takes a look at the national market, but download the entire Powerpoint presentation for the complete story.
The current drop in housing sales volume might look a little different when you put it in the perspective of previous real estate markets. Nationally, the 1970's-80's had a 48% decline in sales and a 2% decline in jobs, compared to today's 9% decline in housing sales and 1% gain in jobs. This information from David Lereah of the National Association of Realtors (now having its annual conference in New Orleans)takes a look at the national market, but download the entire Powerpoint presentation for the complete story.
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