Unemployment in California hits 11.5%
California Housing Crash, The Economy, Real Estate June 19th, 2009
More bad news for the Golden State. According to the EDD:
SACRAMENTO – California’s unemployment rate was 11.5 percent in May, and nonfarm payroll jobs declined by 68,900 during the month, according to data released today by the California Employment Development Department (EDD) from two separate surveys.
Now, this is what I say:
This will put even more pressure on Real Estate values in the State. Expect more foreclosures and more declines in home prices.
