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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Tradelite who wrote (30229)4/27/2005 4:43:11 PM
From: anachronistRead Replies (4) of 306849
 
So........the conclusion I got from reading the story was that real estate only sells hotly in areas where people are working at good jobs and jobs are growing.

Confusing cause and effect is a common logical fallacy. According to a report produced by the Sacramento Regional Research Institute (SRRI) "the housing industry as a whole (including expenditures on existing housing) contributes $218 billion to California's economy, supports almost 1 million jobs and accounts for approximately 10 percent of all statewide economic activity." I would conclude that strong employment numbers are therefore an effect of the housing boom, rather than a cause.
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