[quote=creechrr]I would suspect little to no affect. SAIC has been moving jobs out of state for years. This last round is primarily the handful of bigwigs at or near the top.
Most of the worker bee jobs are going to the South/South East; Florida and Alabama. Their IT support operations moved to Florida earlier this year (March, I think). There will be some support staff left here but, not the large numbers that once were.
If the local job loss hasn’t had a major affect on housing prices yet, I doubt it will.
For those of us that would like to purchase, SAIC isn’t our problem. The government’s intervention IS.
1. Foreclosure moratoriums
2. Fed – $8,000 tax credit to purchase
3. State – $10,000 tax credit to purchase new
4. Artificially low interest rates
5. TARP – Let’s give failing enterprises money so that they can contiue to fail at a new level of failure.
6. Hope Now – Hey, let’s rework your mortgage on that house you can’t really afford and make you into what is essentially a life long renter.
The USS Fail Boat setting sail for a port near you.
Yes, I’m a little $&^#ing bitter.[/quote]
Fed $8000 credit will expire on Dec 1, 2009 and it is for first time buyer only. They are talking to extend this plan for few more months…. or not, keep eyes on the news.
CA $10K has been used up already !!! don’t think about it.
Artifically low interst rate will be gone after end of Oct ! because Fed won’t buy the securities after end of Oct. If investors put money on bond, then the rate may be kept in low level. But if they jump to stock market, not sure how high the mortgage rate will go and how the house price will drop further. You can either buy a cheaper house or lock a lower rate I guess.
