This recently posted in the Utah Association of Realtors newsletter:
An editorial in Tuesday’s Wall Street Journal says “it’s very likely April 2008 will mark the bottom of the U.S. housing market.” Author and hedge fund manager Cyril Moulle-Berteaux says affordability, the same factor which led to the bust, will stop the housing decline. He argues that homes are now on average back to being as affordable as they were in the 1990s and early 2000s, the result of falling prices, lower interest rates and rising incomes. He says once home sales bottom, the rate of price declines will slow as inventory continues to drop. Moulle-Bereaux predicts prices will stop falling by sometime in 2009. Read the complete editorial.
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Information recently posted by the Utah County Association For Realtors.
One area that is likely to maintain its torrid job growth is Provo, Utah, which had the eighth-fastest job growth the past five years, at 4.2% annually. Provo ranks 11th overall in our ranking of the Best Places for Business and Careers. Employment actually accelerated in 2007 and was up 5.5%. Crime rates in Provo are among the lowest in the country, and 31% of the adult population has a college degree, compared with 25% nationally.
Business costs in Provo are 6% lower than the national average. Good news for employers like Intel (nasdaq: INTC – news - people ) and Micron (nyse: MU – news - people ), which created a flash-memory joint venture in the area that started production last year. The venture is expected to eventually create 1,850 jobs with a total investment of $3 billion. Read the article in it’s entirety here
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