[quote=Sifi]If the information is available, I believe any areas that suffer from higher unemployment (or underemployment)should see a greater depreciation in home values. Would this information show up in the SANDAG numbers? . . . [/quote]
I don’t know if unemployment statistics are available for each micro market. Being “employed” is obviously important for some buyers and irrelevant for others. Again, don’t know what the percentages are between these subsets of buyers. Perhaps “employed” buyers gravitate to certain areas around employment centers while other buyers have different buying criteria?
Not trying to muddy the waters here, but many, many areas of the county are largely inhabited by homeowners who don’t go to “work” every day.
I believe the level of distressed inventory in an immediate area affects RE values there more than rate of unemployment. This “distress” may or may not be caused from “unemployment.”
