According to news reports the recession is over. Somehow a flashback to Kool and The Gang popped into my head.
Of course if you ask most people who are struggling to make ends meet in today’s economy they might disagree with the economists reports. We are fortunate in the DC Metro area to have low unemployment rates and homes prices are up from a year ago at this time, though sales volume is down.
In Fairfax County the total sales volume in August was down 11.32% from a year ago. Average sales price was up 8.97% to $489,387.
In Prince William County the total sales volume in August was down 8.99% from a year ago. Average sales price was up 12.46% to $289,704.
The next thing the national news will start focusing on is retail sales numbers for the upcoming holiday season. Holiday decorations are already coming out in stores which means reports about “consumer confidence” reports and tracking shopping trends will soon follow.
My biggest question about the economist reports announcing the the recession is over is why did it take the news 14 months to tell us?