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Jobs increase as investing in the homebuilding industry transitions from 'neutral'? to 'attractive'? in Goldman Sachs report.
In a recent Bloomberg article, Real Estate Reporter Prashant Gopal highlighted a Goldman Sachs report that marked US homebuilders an 'attractive investment as the housing market starts '˜strong' recovery.'? With the Commerce Department reporting new houses selling at a pace of 369,000 in May, June saw a record plunge in mortgage rates and the continued evaporation of existing homes that led to a 4.7 percent increase in the construction of single-family houses. The recent surge has led Goldman analysts to estimate new-home sales reaching 700,000 in 2014.
According to Gopal, Goldman analysts are connecting the positive recovery to 'supportive government policies and a decline in the so-called shadow inventory of homes.'? The shadow inventory of homes refers to the supply of foreclosures and shorts sales still projected to hit the market. Arizona, California, Florida, Nevada and Texas report a 15 percent decrease in shadow inventory, while also reporting a 34 percent increase in demand. Goldman analysts attribute this to the supply of foreclosures being swallowed up by investors, 'limiting shadow inventory and creating a floor for home prices.'? 'We expect any further decline in inventory,'? write the analysts, 'to serve as a platform for price appreciation, further aiding sales.'?
In a June article for Bloomberg entitled 'Arizona's New Housing Crisis: No Workers,'? Gopal also described the impact this increase in new-home building has had on jobs, as Arizona contractors report an unprecedented shortage of skilled workers. One of the places hit hardest over the past few years, Arizona is now 'scrambling'? for workers to keep up with the demand for new homes. This scramble for workers should be considered in light of the June jobs reports that indicate, according to USA Today, a 25,000 raise in temporary workers'”nearly a third of June's 80,000 payroll gains. As concluded in the report, 'many businesses are using contractors and other temp workers on an ongoing basis to better meet fluctuating demand and enlist workers with specialized skills for short-term projects.'?
JWilliams Staffing has definitely felt the convergence of these new reports, with new positions and openings pouring in from a variety of locations'”most recently including Los Angeles, San Diego, Tucson, Fort Worth, and Denver. Whether you are looking for employees or employment, there could not be a better time to visit JWilliamsStaffing.com.
