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Eugene
ParticipantHow much of that is due to the housing boom? I suspect we won’t know until at least the 2009-2010 numbers come out.
Probably half of it. Here are some places that didn’t have a housing boom.
Charlotte: 13% ($53,868 to $61,061)
Dallas-Fort Worth: 12% ($55,016 to $61,596)
Denver: 11% ($61,088 to $68,081)
Portland: 19% ($54,171 to $64,316)ParticipantHow much of that is due to the housing boom? I suspect we won’t know until at least the 2009-2010 numbers come out.
Probably half of it. Here are some places that didn’t have a housing boom.
Charlotte: 13% ($53,868 to $61,061)
Dallas-Fort Worth: 12% ($55,016 to $61,596)
Denver: 11% ($61,088 to $68,081)
Portland: 19% ($54,171 to $64,316)ParticipantHow much of that is due to the housing boom? I suspect we won’t know until at least the 2009-2010 numbers come out.
Probably half of it. Here are some places that didn’t have a housing boom.
Charlotte: 13% ($53,868 to $61,061)
Dallas-Fort Worth: 12% ($55,016 to $61,596)
Denver: 11% ($61,088 to $68,081)
Portland: 19% ($54,171 to $64,316)ParticipantRemember you need to subtract:
A. Real-estate related job losses.
B. Local economy job losses due to the above as well as the disappearance of the “house as ATM” effect.
Given that something like 25% of our employment is in the RE sector, I can see at least a 30-40% decline in the median income until we hit bottom.
RE sector employment is less than 25%, and unemployment in that sector is still far from 100%. According to http://piggington.com/october_employment_0, construction, finance, and retail lost only 4,000 jobs since October ’06.
Back to census.gov
Out of 1.3m jobs, 117,089 are in construction; 64,846 are in finance and insurance; 40,443 in “real estate and rental and leasing”. Much of “finance and insurance” is not related to RE. “Real estate and rental and leasing” includes employees of apartment complexes, commercial RE, etc.
ParticipantRemember you need to subtract:
A. Real-estate related job losses.
B. Local economy job losses due to the above as well as the disappearance of the “house as ATM” effect.
Given that something like 25% of our employment is in the RE sector, I can see at least a 30-40% decline in the median income until we hit bottom.
RE sector employment is less than 25%, and unemployment in that sector is still far from 100%. According to http://piggington.com/october_employment_0, construction, finance, and retail lost only 4,000 jobs since October ’06.
Back to census.gov
Out of 1.3m jobs, 117,089 are in construction; 64,846 are in finance and insurance; 40,443 in “real estate and rental and leasing”. Much of “finance and insurance” is not related to RE. “Real estate and rental and leasing” includes employees of apartment complexes, commercial RE, etc.
ParticipantRemember you need to subtract:
A. Real-estate related job losses.
B. Local economy job losses due to the above as well as the disappearance of the “house as ATM” effect.
Given that something like 25% of our employment is in the RE sector, I can see at least a 30-40% decline in the median income until we hit bottom.
RE sector employment is less than 25%, and unemployment in that sector is still far from 100%. According to http://piggington.com/october_employment_0, construction, finance, and retail lost only 4,000 jobs since October ’06.
Back to census.gov
Out of 1.3m jobs, 117,089 are in construction; 64,846 are in finance and insurance; 40,443 in “real estate and rental and leasing”. Much of “finance and insurance” is not related to RE. “Real estate and rental and leasing” includes employees of apartment complexes, commercial RE, etc.
ParticipantRemember you need to subtract:
A. Real-estate related job losses.
B. Local economy job losses due to the above as well as the disappearance of the “house as ATM” effect.
Given that something like 25% of our employment is in the RE sector, I can see at least a 30-40% decline in the median income until we hit bottom.
RE sector employment is less than 25%, and unemployment in that sector is still far from 100%. According to http://piggington.com/october_employment_0, construction, finance, and retail lost only 4,000 jobs since October ’06.
Back to census.gov
Out of 1.3m jobs, 117,089 are in construction; 64,846 are in finance and insurance; 40,443 in “real estate and rental and leasing”. Much of “finance and insurance” is not related to RE. “Real estate and rental and leasing” includes employees of apartment complexes, commercial RE, etc.
ParticipantRemember you need to subtract:
A. Real-estate related job losses.
B. Local economy job losses due to the above as well as the disappearance of the “house as ATM” effect.
Given that something like 25% of our employment is in the RE sector, I can see at least a 30-40% decline in the median income until we hit bottom.
RE sector employment is less than 25%, and unemployment in that sector is still far from 100%. According to http://piggington.com/october_employment_0, construction, finance, and retail lost only 4,000 jobs since October ’06.
Back to census.gov
Out of 1.3m jobs, 117,089 are in construction; 64,846 are in finance and insurance; 40,443 in “real estate and rental and leasing”. Much of “finance and insurance” is not related to RE. “Real estate and rental and leasing” includes employees of apartment complexes, commercial RE, etc.
ParticipantRemember you need to subtract:
A. Real-estate related job losses.
B. Local economy job losses due to the above as well as the disappearance of the “house as ATM” effect.
Given that something like 25% of our employment is in the RE sector, I can see at least a 30-40% decline in the median income until we hit bottom.
RE sector employment is less than 25%, and unemployment in that sector is still far from 100%. According to http://piggington.com/october_employment_0, construction, finance, and retail lost only 4,000 jobs since October ’06.
Back to census.gov
Out of 1.3m jobs, 117,089 are in construction; 64,846 are in finance and insurance; 40,443 in “real estate and rental and leasing”. Much of “finance and insurance” is not related to RE. “Real estate and rental and leasing” includes employees of apartment complexes, commercial RE, etc.
ParticipantFrom census.gov
Median family income in San Diego metropolitan area:
1999: $53,438
2006: $69,099That’s 29%. 1997-2007 difference will be bigger.
http://factfinder.census.gov/servlet/DTTable?_bm=y&-context=dt&-ds_name=DEC_2000_SF3_U&-mt_name=DEC_2000_SF3_U_P077&-CONTEXT=dt&-tree_id=403&-redoLog=true&-all_geo_types=N&-geo_id=38000US7320&-search_results=01000US&-format=&-_lang=en&-SubjectID=14830196
http://factfinder.census.gov/servlet/DTTable?_bm=y&-context=dt&-ds_name=ACS_2006_EST_G00_&-CONTEXT=dt&-mt_name=ACS_2006_EST_G2000_B19113&-tree_id=306&-redoLog=false&-geo_id=31000US41740&-search_results=31000US41740&-format=&-_lang=en&-SubjectID=14830196ParticipantFrom census.gov
Median family income in San Diego metropolitan area:
1999: $53,438
2006: $69,099That’s 29%. 1997-2007 difference will be bigger.
http://factfinder.census.gov/servlet/DTTable?_bm=y&-context=dt&-ds_name=DEC_2000_SF3_U&-mt_name=DEC_2000_SF3_U_P077&-CONTEXT=dt&-tree_id=403&-redoLog=true&-all_geo_types=N&-geo_id=38000US7320&-search_results=01000US&-format=&-_lang=en&-SubjectID=14830196
http://factfinder.census.gov/servlet/DTTable?_bm=y&-context=dt&-ds_name=ACS_2006_EST_G00_&-CONTEXT=dt&-mt_name=ACS_2006_EST_G2000_B19113&-tree_id=306&-redoLog=false&-geo_id=31000US41740&-search_results=31000US41740&-format=&-_lang=en&-SubjectID=14830196ParticipantFrom census.gov
Median family income in San Diego metropolitan area:
1999: $53,438
2006: $69,099That’s 29%. 1997-2007 difference will be bigger.
http://factfinder.census.gov/servlet/DTTable?_bm=y&-context=dt&-ds_name=DEC_2000_SF3_U&-mt_name=DEC_2000_SF3_U_P077&-CONTEXT=dt&-tree_id=403&-redoLog=true&-all_geo_types=N&-geo_id=38000US7320&-search_results=01000US&-format=&-_lang=en&-SubjectID=14830196
http://factfinder.census.gov/servlet/DTTable?_bm=y&-context=dt&-ds_name=ACS_2006_EST_G00_&-CONTEXT=dt&-mt_name=ACS_2006_EST_G2000_B19113&-tree_id=306&-redoLog=false&-geo_id=31000US41740&-search_results=31000US41740&-format=&-_lang=en&-SubjectID=14830196ParticipantFrom census.gov
Median family income in San Diego metropolitan area:
1999: $53,438
2006: $69,099That’s 29%. 1997-2007 difference will be bigger.
http://factfinder.census.gov/servlet/DTTable?_bm=y&-context=dt&-ds_name=DEC_2000_SF3_U&-mt_name=DEC_2000_SF3_U_P077&-CONTEXT=dt&-tree_id=403&-redoLog=true&-all_geo_types=N&-geo_id=38000US7320&-search_results=01000US&-format=&-_lang=en&-SubjectID=14830196
http://factfinder.census.gov/servlet/DTTable?_bm=y&-context=dt&-ds_name=ACS_2006_EST_G00_&-CONTEXT=dt&-mt_name=ACS_2006_EST_G2000_B19113&-tree_id=306&-redoLog=false&-geo_id=31000US41740&-search_results=31000US41740&-format=&-_lang=en&-SubjectID=14830196ParticipantFrom census.gov
Median family income in San Diego metropolitan area:
1999: $53,438
2006: $69,099That’s 29%. 1997-2007 difference will be bigger.
http://factfinder.census.gov/servlet/DTTable?_bm=y&-context=dt&-ds_name=DEC_2000_SF3_U&-mt_name=DEC_2000_SF3_U_P077&-CONTEXT=dt&-tree_id=403&-redoLog=true&-all_geo_types=N&-geo_id=38000US7320&-search_results=01000US&-format=&-_lang=en&-SubjectID=14830196
http://factfinder.census.gov/servlet/DTTable?_bm=y&-context=dt&-ds_name=ACS_2006_EST_G00_&-CONTEXT=dt&-mt_name=ACS_2006_EST_G2000_B19113&-tree_id=306&-redoLog=false&-geo_id=31000US41740&-search_results=31000US41740&-format=&-_lang=en&-SubjectID=14830196 -
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