Comments on: Construction and Mortgage Employment Down In California For June, 2007 http://www.therealestatebloggers.com/2007/07/21/construction-and-mortgage-employment-down-in-california-for-june-2007/ Real Estate Blog, Mortgage, and Development News Sat, 20 Mar 2010 11:25:08 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Marc Brinitzer http://www.therealestatebloggers.com/2007/07/21/construction-and-mortgage-employment-down-in-california-for-june-2007/comment-page-1/#comment-55526 Marc Brinitzer Sun, 22 Jul 2007 16:18:34 +0000 http://www.therealestatebloggers.com/2007/07/21/construction-and-mortgage-employment-down-in-california-for-june-2007/#comment-55526 So far the media and the pundits are hanging on to commercial construction as the lifesaver for real estate jobs. While it's true that commercial construction remains busy, commercial developers are pulling the plug on new projects at an alarming rate. Sacramento office vacancies are rising as real estate, mortgage. title, engineering and related businesses contract. The Industrial sector is soft from the decline in demand from small contractors. And the slowdown in residential and the emptying of consumer's wallets is making it harder to pencil new shopping center projects. The first blush of layoffs hit in an invisible way. Read my post: http://www.lendingclarity.com/2007/05/01/employment-the-housing-bubble-and-the-hidden-work-force/ I think we'll soon see the slowdown appear more dramatically and obviously in the official numbers. So far the media and the pundits are hanging on to commercial construction as the lifesaver for real estate jobs. While it’s true that commercial construction remains busy, commercial developers are pulling the plug on new projects at an alarming rate.

Sacramento office vacancies are rising as real estate, mortgage. title, engineering and related businesses contract. The Industrial sector is soft from the decline in demand from small contractors. And the slowdown in residential and the emptying of consumer’s wallets is making it harder to pencil new shopping center projects.

The first blush of layoffs hit in an invisible way. Read my post:

http://www.lendingclarity.com/2007/05/01/employment-the-housing-bubble-and-the-hidden-work-force/

I think we’ll soon see the slowdown appear more dramatically and obviously in the official numbers.

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