Sunday, September 17, 2006

WOW!!

From today's www.Bakersfield.com two local articles:


Housing slowdown could mean painful adjustments for Kern

The housing market’s slowdown, and the resulting loss in jobs, could mean a painful adjustment is in store for Kern County’s economy, experts say.



Jobs slip as building slides

Then the market ground to a halt last fall. And house sales didn’t pick up as much as many had hoped in the spring.

That’s when the layoffs started

Sales have been dragging for both national builders and local ones like Barbara Smith, whose custom and semicustom homes typically sell for $600,000 or more.
Anything priced above $400,000. has been really, really slow to sell, Smith said on a recent afternoon


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I wonder how many of the real estate offices built on Coffee Road will be vacant in the next year?

5 comments:

smoggiebakersfield said...

I was amazed, The Californian finally wrote about the pain thats coming! To boot the stories start on the front page!!!!! I'm still dazed.

I think Bakersfield Bubble may be getting the point across!

Bakersfield Bubble said...

Smoggie-

Have you driven down Coffee road recently? The amount of real estate related busineses moving into new buildings is amazing. The buildings were built for homes sales to continue growing, what happens now that sales are down 30%?

smoggiebakersfield said...

Bakersfield,

Those new buildings will soon be nicely suited, for Consumer Credit Counseling agencies & Law Firms. Kern County is going to need them.

Anonymous said...

Housing starts expected to fall.

http://www.marketwatch.com/News/Story/FQnv1SxzXhctJvMwjXsQM7H?siteid=mktw&dist=morenews

Anonymous said...

Recession about to begin?

http://www.europac.net/media/Schiff-Bloomberg-9-8-06_lg.wmv