Economic Expansion Largest In Years

In a recent Wall Street Journal article it was reported that the rate of economic expansion (GDP increase) is expected to be its largest since 2003.   And while national unemployment is still high, it is expected to dip below 9% by the year’s end.  Currently the unemployment in Lane County is still above 10%.
 
So what does this mean for housing prices?   Housing prices are affected by a number of factors, but fundamentally, it comes down to supply and demand.  High unemployment decreases demand; you need a job in order to pay your mortgage.  I expect a soft market in Eugene Springfield until our stubbornly high unemployment rate drops.

More jobs will help Eugene's real estate market.

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