Economy
'There's Work Out There, But It Pays Less'
From the Modesto Bee: This time last year, Ernesto Dias, 31, of Modesto was framing houses in Merced. By autumn, he and his co-workers realized that work was slowing and it wasn't just a seasonal shift. "The supervisors weren't talking about the next job because there wasn't a next job," Dias said.
'It's Kind of Like Bleeding to Death'
From Bloomberg: Home prices fell in 23 U.S. metropolitan areas in March, led by Sacramento and San Diego, as rising foreclosures prolonged the housing recession.
'We'll Just Wait Until the World Turns Around'
From the Sacramento Business Journal:Sixells LLC...had planned to build 400 condos around Sacramento has been stung by slow sales, lawsuits, liens and an unusual accusation of forgery against the project manager -- and it won't survive, [developer David] Lonich s
'When you put on a super sale, people show up and buy'
From the Sacramento Bee:[W]ith 12,000-plus "For Sale" signs in the region, the market hasn't yet reached bottom, said ReMax's [Randy] Dunham. At month's end there were 12,606 homes for sale in El Dorado, Placer, Sacramento and Yolo counties, according to Sacramento-based researcher TrendGraphix.
90s Recession: The Good Ol' Days?
From the Modesto Bee: During the recession of the 1990s, government in general continued to hire. Sure, the state made the cities, counties and schools bear the brunt of the hurt. Some programs were eliminated or scaled back. But Stanislaus County continued to grow in population throughout that time.
In Come the Waves: Tech Spending
From the NPD Group: The consumer technology industry, whose performance has traditionally outpaced the broader economy, is showing signs of being affected by today’s weakening economy, especially in certain cities, according to the Market Tracking Service provided by leading consumer and retail information provider Th
'Epicenter of the Boom...Epicenter of the Bust'
From CNN Money:Mortgage delinquencies will continue to rise over the next six to 12 months as home prices decline and economic conditions remain difficult, according to one forecast released Monday.
"Leery of Too Much Sunshine"
From the Today Show:The six scariest real estate marketsStockton, Calif.Stockton has the highest rate of foreclosures in the nation...Unemployment is a whopping 10 percent, almost double the national average of 5.2 percent.
Sacramento Real Estate's 'Ripple Effect'
From the Appeal Democrat: Six people are expected to lose their jobs and funding to 25 others cut back as the impact of the housing slump hits home in Yuba County.
