The Real Effects Of The Economic Meltdown
We all know that the real estate market is soft, experiencing unprecedented reductions in value, etc. But how soft? How deep is the decline in value in real dollars and percentage-wise? Here is a chart that is statistically as accurate as it gets, pulled from my favorite blog, Mish’s Global Economic Trend Analysis: http://globaleconomicanalysis.blogspot.com
Check it out. It’s through January and therefore it is worse now in April and will continue to decline further as the year progresses. It is clear that the Northeast and other specific areas seem to be doing better than other areas of the country, but I suspect the recession will catch up and further softening and deeper declines will occur in these regions and cities as well. No city is going to avoid this decline. We see it as deep as 45% in Nevada and as little as 11% in Charlotte now, but it will deepen everywhere.
This is reality, along with another sobering bit of information – if calculated, including those who have left the job searching market all together, our real unemployment rate is 15% and climbing. It will likely reach a 20% rate.
This is the bad news. The good news, if you follow the program outlined in our small business bailout plan, is that you will survive and flourish despite the burn down of our economy. Despite he continued negative effects of the economic meltdown, small business owners need not be a casualty if they follow an effective, proactive plan.
Case-Shiller Declines Since Peak Current Data
