The other week I attended the 14th Annual Economic Summit hosted by the Northern Virginia Association of REALTORS. Before attending the Summit, I posted Get Ready for Some Economic Predictions (Prognostications) This Week! I had meant to update you with some of the information from the Summit that week, but was getting ready for and then left for vacation.
Here's a few soundbites from the Summit which discussed the Northern Virginia regional economy and housing market:
"Nationally, 25% of FHA loans have family gift money involved. In Northern Virginia, only 15%"
"Over 40% of people who go into foreclosure have never called their lender to discuss their situation!"
"The annual job change in the D.C. metro area was postive 41,800 from July 2009 to July 2010!"
"Northern Virginia job growth from July 2009 to July 2010 was 22,700 jobs"
"The D.C. area has had 12 straight months of a positive direction of leading economic indicators"
Here for your review is Dr. Stephen Fuller's slides from his presentation at the Economic Summit. Dr. Fuller is the Director of the Center for Regional Analysis at George Mason University:
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Brian, thanks for putting this together for us. There's a lot of info here to digest - I've bookmarked to revisit! Hope you enjoyed your vacation...
Brian, working short sales like I do, it is amazing that so many homeowners don't call when they are in trouble. There's got to be a way to get the message out that there is help available.
That's not a whole lot of employment growth. How much of it is private and how much public?
Considering most of the country is going in the other direction, I think that's very good news in terms of job creation.