Is the Economy really recovering?

[xxnubyxx]

Sparked by President Obama's State of the Union Address, I was wondering if Austin Hobbyists and Providers feel that the economy is really improving. After 2 years of pain, I am seeing some hiring and expect a raise and bonus. Does anyone else feel the same or is this an artificial high resulting from money printing and debt spending? Are there really hiring? Are providers seeing more activities and pick up in business?

[Anonymous170]

He'll no it's not better!the state is going to cut jobs to fix the budget

[Damon Bradley]

Yes, it was a glorious pep talk, wasn't it?

[rCoder]

Just wished he'd bothered to read the Constitution first... The bits and pieces I caught sure ain't authorized...

[DRorchia]

It's still all about their "agenda's", not what's best for the American people or even the country for that matter. It's what's best for the Democratic party. Both sides have been playing that game too long and the state of our country shows it.

[l81morex]

Around Austin, there seem to be more job postings and a few companies that are actually hiring. In my pool of unemployed friends, 20% have started a new job since the first of the year, the other 80% are having more interviews.

Those that appear to be having the hardest time finding a job are the ones holding advanced degrees. I've had to go as far as removing one of my Bachelor Degrees, and my MBA to get interviews. My resume only shows a degree in Biology.

Personally, I seem to be getting more offers to do web marketing gigs paying $10-15 per hour. Sorry folks, but when you spend north of $60k on a degree at Rice that takes nine years to pay off, that's quite a slap in the face.

[SpeedRacerXXX]

Well, the DJIA is set to break 12,000. Companies are reporting record earnings for 2010. My company has not announced major layoffs in quite a while (layoffs you hear about; new hiring you do not). Texas reported net job gains of 20,000 in December. The only sectors that seem to be experiencing difficulties are state and local governments.

[maxieryan]

Notice there was silence when he talked about 'cutting the gov't fat', LOL. I got a kick out of that one. Doubt any of them will vote to cut their salaries for the 'good of the country'. And when he mentioned 'taxing the millionaires more' they panned the audience. NOT MANY OF THEM SEEMED HAPPY, remember, they are mostly millionaires!

That MAY be why nothing is getting done!!!!!! Hahahaha

Business is really tanking right now because everyone just got their cred card bills from Christmas.....OUCH!

[RALPHEY BOY]

I say no, these numbers we are seeing are propped up numbers, I say it wont be for another 2-3 years.. house prices are still falling in 20 major cities ..

[Whispers]

Originally Posted by RALPHEY BOY

I say no, these numbers we are seeing are propped up numbers, I say it wont be for another 2-3 years.. house prices are still falling in 20 major cities ..

And Austin lags the country typically 2-3 years

but...

USUALLY

follows the trends.... Which means we have harder days ahead

[l81morex]

Interesting point about the propped up numbers. They only reflect people that collect unemployment benefits or are "Actively seeking work, The latter of which I am not one of them. My guess is that the real unemployment number is closer to 12%.

I agree with housing prices dropping for another 2-3 years, it could be longer depending on when the cycle started. One of the things to look at in judging the housing recovery is rental rates. Take a look at homes for sale in Austin, then compare that to purchasing the same home. Depending upon your assumptions, the net cash flow per month when you lease is quite favorable.

If you are interested in a kick ass Rent vs. Buy calculator use this:

http://www.nytimes.com/interactive/b...alculator.html

[Guest031411-2]

yup, whispers hit it on the head, Texas is typically the last state to get hit by a recession and the last state to recover from it. Numbers are down across the board - manufacturing exports out of state are dropping, housing is down, and cities etc. are all facing massive budget shortfalls. Look at AISD trying to figure how to make it work without letting go 200 teachers and closing schools, Texas DOT barely investing in any new construction, hi-tech slowing down on facility expansion as the rest of the country is slow to by new computers, phones, etc. Not trying to be chicken little here, but be ready to face worsened times here in the big Texas.

[Sexy Roxanne]

^ agree. It seems to have gotten slower actually.

[MarleyMonroe]

Yup, its pretty darn slow compared to previous years.

[Fancyinheels]

Our economy is so bad....