Wednesday, January 27, 2010

On the Plus Side... homes sales are up, unemployment not as bad, as it could be

The UE rate here in Framingham is 6.5%, much lower than the State average of over 9%. I know this news in not great for many of us, but it could be much worse. Comparing us to other Towns doesn't make anyone feel better, but it is good to know, we are not losing ground. I was reminded by the authors that we in Framinghgam and surrounding areas were suffering big time with job loses from 1988 to 1992.

Not since 2004 have there been any rises in new home sales. In 2009, single family home rose by 3%, mostly because of the 8,000 dollar home buying credit offered by the feds. Say what you will about stimulus spending, or the lack of jobs created, which is up for debate, but the money used for buying homes is a dam good use and will continue until April. The median home price in December, up 10% from December last year, is 295,000.


At January 27, 2010 at 2:31 PM , Blogger 6th Middlesex constituent said...

Have to question some of what you are saying here Jim. Unemployment rate went up in MA last month, and home sales went down in MA last month. What have you been smoking before you wrote this story?

At January 27, 2010 at 2:45 PM , Blogger Worried 01701 said...

MA unemployment rate 8.3% in November, 9.1% in December. Don’t know about where you went to school, but where I went to school, that is an increase.

At January 27, 2010 at 3:11 PM , Blogger Eric said...

I read the unemployment rate in MA went up last month to something like 9.4%. Are you saying that was wrong? As to the the unemployment rate in Framingham, does not really make any difference to me. I need a job, have needed a job for more than a year, and I can not find a job. Does not matter to me how many people are working in Framingham or how many people are not working in other areas of the state. What matters to me is whether I can get a job. Until I do, the unemployment rate is too high. When the rate goes down it is more often because people exhausted their benefits and so no longer collect and no longer appear in that number than it is because people who were out of work actually went back to work. And of those that have gone back, where do you find the figures on underemployed people?

At January 27, 2010 at 3:12 PM , Blogger Jim Pillsbury said...

Now Now.... homes sales are up according to the Warren Group who did the study, today's Globe.

Unemployment went up in the State.. true it is. But Framingham's rate is lower than the State average. That's all I was trying to point out. Other parts of the state are well over 10% and growing.

At January 27, 2010 at 3:20 PM , Blogger abby said...

I usually find you to be right on and accurate Jim, but have to say I think you messed up here. You sound like those politicians who try to hide bad news behind some positive spin meter. Unemployment is up and home values are down. Don’t think you should paint either of those as a positive message.

At January 27, 2010 at 3:38 PM , Blogger Jim Pillsbury said...

A little ray of sunshine here.. please. Don't shoot the messenger here. This stuff is not made up..

Home values rising is a good thing for this Town and this State..

The more residents in Framingham who are employed, means perhaps less foreclosures, also good for our Town.

So much of what I write about is bad news. Might it not be uplifting to see a snip it of good news?

At January 27, 2010 at 3:47 PM , Blogger fed up in framingham said...

The President speaks tonight and hopefully he will talk about creating jobs and not about health care reform. That is what people care about now. I can’t worry about my health benefits if I can’t figure out how to feed my family and keep a roof over my head. Those worries take precedance. Don’t sell out here Jim and start telling us it is not really all that bad. It sucks to be out of work in a home that is upside down. No matter how you spin it, that is not a good position to be in.

At January 27, 2010 at 3:51 PM , Blogger Old soldier said...

Nothing wrong with trying to be positive. Nothing he says here is wrong just depends on how you look at it. You can’t always just talk about the bad stuff. It is not all bad even if you think it is. Sun still comes up every morning and the doomsday clock has moved back a minute. Those are both good things. Give the guy a break here people.

At January 27, 2010 at 4:56 PM , Blogger Derek said...

Not everyone is over the edge here so stop thinking we are all in the sinking ship most of you are in. Some of us still have jobs and still have houses worth more than we paid for them 25 years ago. Do I think things need to get better, sure I do. But I don’t think everything is awful either.

At January 27, 2010 at 5:17 PM , Blogger Harry said...

Home prices and sales better? What the hell planet are you living on Pillsbury? I bought my house 6 yrs ago and never refinanced or took a 2nd on it and I am still upside down on my mortgage. How that heck can you say that is better? Tell me something. You own a home here in Framingham. Are you still holding a lot of equity in your home?

At January 27, 2010 at 7:47 PM , Blogger Jim Pillsbury said...

Yes Harry, both my places are under.. by 10% anyway. But that would be more, if more of my neighbors were foreclosed on. I'll only loose money if I sell.

I've lived trough other downturns, recessions, NAFTA, downsizing and consolidations, with and without wives and children and I'll live through it again. And so will all of us.

The new norm is what we now have. Our economy may well be this way for years to come. We have shrunk and need to deal with it, one way or the other.

A major part of our economic recovery, is our own confidence that things will get better. We must remain vigilant for signs of life.

Any positive changes will be incremental at best and we should be thrilled when we see it.

At January 28, 2010 at 10:24 AM , Anonymous Anonymous said...

Your thoughts on the Presdidents speech last night Jim? Do you think it instilled that confidence we need?


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