Economists expected today's jobs report to reflect a loss of 328,000 jobs. Unexpectedly, the job loss was "only" 247,000. Some are interpreting this as a stabilization of the economy. The unemployment number ostensibly declined from 9.5% to 9.4% - although this figure doesn't reflect the underemployed, or those discouraged people who have stopped looking for jobs.
Although this is a good sign for the economy, it also brings with it the prospect of future inflation and its companion, higher interest rates.
First time home buyers should note also that the $8,000 First Time Home Buyer Tax Credit only extends through the end of November.
With the prospect of higher interest rates and the end of the tax credit program nearing, Lancaster County buyers should consider taking advantage of the still plentiful inventory of homes and current low mortgage rates.
Brian Schulman offers expert real estate representation for buying and selling homes in Lancaster County, PA. To learn more, visit http://www.FindLancasterHomes.com/
Brian Schulman offers expert real estate representation for buyers and sellers of homes in Lancaster County, PA. To learn more, visit http://www.FindLancasterHomes.com/
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