The job market is showing signs of stabilization. After hitting a 25-year high of 9.5% in June, the national unemployment rate fell back to 9.4% in July . Bay Area unemployment rose by less than 0.1% in July, finishing the month at 10.8%.
Most economists are expecting a slow, multi-year recovery in the job market. It would be nice to think that we've finally begun that recovery. If so, then Bay Area home prices may finally have hit bottom.
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