When Bad News is Good News
Posted by Jim8.9% unemployment is an ugly to be sure. Unemployment is personal though; you remember the old story about when your neighbor loses his job it is a recession, if you lose yours it is a depression.
Not to make light of this, since I still have a semblance of a job, but the rate of job losses is shifting to the positive side. All recessions end but the process of change does not begin until the bottom is hit. The question to ask is not when we reach the nadir but how long will it take until there is a sense of recovery in the air.
I suspect we are seeing some healthy signs in San Diego real estate already. The market in Mission Hills has not resembled a bloodbath but more a solid block of ice. Things are thawing a bit but I would not order the Porsche just yet. The good news is this economy has turned the corner.
