The National unemployment rate for Feb 2009 hit 8.1% – that is a significant increase from the Feb 2008’s 6.2. California hit 10.1% in January 2009 – again a big increase over the Jan 2008’s 6.1%.
Riverside – San Bernardino – Ontario (California) had an unemployment rate of 10.1% in December 2008 another big increase over the 6.5% from December 2007.

We are seeing a good trend in home sales in the Inland Empire of Southern California, which does not appear affected by the growing number of unemployed. However, the good rate of sales is probably more attributable to the new lower home prices. For example Moreno Valley, CA homes have lost about 60% of value since the summer of 2006.

Beverly A. Bayer

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