U.S. State Recession Heat Map Hits ABC
This is a nice pick-me-up and break from every single news media delivering the bad news we already know about (hint of sarcasm). ABC News featured this video, which states that over the past 6 months, a total of 27 states have fallen into a recession and 5 more are on the brink. The criteria for determining a state is in a recession are two quarters of negative growth.
Highlights:
- Housing prices are expected to bottom out around June 2009 (optimistic estimate)
- Best Case scenario we are out of a recession by June 2009
- Worst Case scenario we don’t make ground until June 2010
- Unemployment is currently at 6% and is expected to hit 7% to 8% by June 2009
- Texas and Alaska are your best bet is you’re looking to pack up and get out of dodge (growth states)
- Duration – 2:48 minutes
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