27 Months Of Consecutive Job Growth Helping Home Prices Rise

The Bureau of Labor Statistics (BLS) Non-Farm Payrolls report for December exceeded Wall Street's expectations by 5,000 net new jobs, showing 155,000 positions created in December.The December tally raised the economy's 12-month total to 1.84 million net new jobs created nationwide. Jobs added in December mark the 27th consecutive month of job growth. Job growth is causing home values to rise as much as 37%.

  • January 09 2013 - US
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Answers (4)

The Fed has "printed" over a trillion dollars to stimulate the economy.  Home values have stayed the same our dollar has lost value therefore it now takes more of them to buy the same house.

I do agree home prices are rising...now is certainly the time to invest.
  • January 09 2013
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Profile picture for CallTheSisters
Government propaganda.  If some home prices are rising 37% someone is blowing bubbles again.
  • January 10 2013
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Profile picture for hpvanc
37% housing appreciation without general inflation to match, can you say manic-depressive market.  When the bubble pops much of that excess cash the government has been pumping into the system will suddenly evaporate in the current economy, leaving nothing but a government debt hangover.
  • January 10 2013
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Profile picture for Blue Nile
If one looked at the "correction" for the prior month... one would know that the difference from expectation was only "round off error", and meaningless.  The stock market and bond market and securities market keeps over-reacting to the meaningless data items, causing unnecessary fluctuation in the mortgage interest rates.

Now, which home values have been rising 37%?  In what time period?  20 years?  Certainly not in the past 30 days.  I don't even see any rising that much in 12 months.  Not even in Phoenix nor Detroit.

Are you short of people wanting to have you write a loan for them, or something?

For more discussion on how economic factors affect the housing market in various areas, have a look at the thread:
Why should I bid on a short sale? I will wait,prices will come down.

For more discussion on the impact of financial, economic and political news to the mortgage interest rates, see the thread:
Rates on the move again!
  • January 10 2013
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