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Buy Or Sell With James Jestes and eXp Realty

386 315 4744
James@JamesJestes.com

Serving The Greater Daytona Beach Area

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The Pain of Unemployment: It Will Be Deep, But Not for Long

The Pain of Unemployment: It Will Be Deep, But Not for Long | Simplifying The Market

There are two crises in this country right now: a health crisis that has forced everyone into their homes and a financial crisis caused by our inability to move around as we normally would. Over 20 million people in the U.S. became instantly unemployed when it was determined that the only way to defeat this horrific virus was to shut down businesses across the nation. One second a person was gainfully employed, a switch was turned, and then the room went dark on their livelihood.

The financial pain so many families are facing right now is deep.

How deep will the pain cut?

Major institutions are forecasting unemployment rates last seen during the Great Depression. Here are a few projections:

  • Goldman Sachs – 15%
  • Merrill Lynch – 10.6%
  • JP Morgan – 8.5%
  • Wells Fargo – 7.3%

How long will the pain last?

As horrific as those numbers are, there is some good news. The pain will be deep, but it won’t last as long as it did after previous crises. Taking the direst projection from Goldman Sachs, we can see that 15% unemployment quickly drops to 6-8% as we head into next year, continues to drop, and then returns to about 4% in 2023.

When we compare that to the length of time it took to get back to work during both the Great Recession (9 years long) and the Great Depression (12 years long), we can see how the current timetable is much more favorable.The Pain of Unemployment: It Will Be Deep, But Not for Long | Simplifying The Market

Bottom Line

It’s devastating to think about how the financial heartache families are going through right now is adding to the uncertainty surrounding their health as well. Hopefully, we will soon have the virus contained and then we will, slowly and safely, return to work.

GIVE ME A CALL AND LETS TALK ABOUT YOUR REAL ESTATE NEEDS – JAMES JESTES 386-315-4744

Most Recent MLS Listings Today

580 Rio Vista Avenue Daytona Beach FL 32114
Featured
1 / 69
$799,000
3
BEDS
2
TOTAL BATHS
1,841
SQFT
580 Rio Vista Avenue Daytona Beach, FL 32114
Single Family Residence For Sale
- Active

Embrace the ultimate waterfront lifestyle in this stunning riverfront retreat, offering breathtaking views, deep-water access, and a private dock with a brand-new boat lift. This 3-bed, 2-bath, 1,841 sq. ft. home sits on 100 ft of deep water frontage

Listing courtesy of James Jestes of EXP Realty LLC
2515 S Atlantic Avenue 502 Daytona Beach FL 32118
Open House Fri, Jun 6, 1 PM
1 / 59
$824,000
3
BEDS
3
TOTAL BATHS
2,240
SQFT
2515 S Atlantic Avenue 502 Daytona Beach, FL 32118
Condominium For Sale
- Active

MOTORIZED HURRICANE SHUTTERS, & FURNISHED! What more could you want in this end unit condo with ocean views, in the PRESTIGIOUS BELLA VISTA - Welcome to unit 502, your slice of paradise in Daytona Beach Shores! Step into this beautifully maintain

Listing courtesy of Natasha ONeill of LPT Realty, LLC
2582 Lakeshore Drive Flagler Beach FL 32136
New Listing - an hour on site
1 / 29
$499,000
3
BEDS
3
TOTAL BATHS
1,695
SQFT
2582 Lakeshore Drive Flagler Beach, FL 32136
Single Family Residence For Sale
- Active

Enjoy life on the water in this 3-bedroom, 2.5-bathroom home along the Intracoastal in Flagler Beach. With 1,695 square feet, a seawall, boat lift, and open water views, it's a peaceful spot to watch dolphins, catch stunning sunsets, and take in the

Listing courtesy of Tammy Shaver of Redfin Corporation
304 River Bluff Drive Ormond Beach FL 32174
New Listing - 2 hours on site
1 / 73
$525,000
4
BEDS
3
TOTAL BATHS
2,797
SQFT
304 River Bluff Drive Ormond Beach, FL 32174
Single Family Residence For Sale
- Active

Immaculate 4 Bedrooms, 2.5 Bath with a 2 Car Garage overlooking an incredible, private, peaceful, nature preserve. Roof 2024, AC's 2021 and 2015, HWH 2021, and Pella Windows (most rooms) 2025. As you enter the home, notice vaulted ceilings above upda

Listing courtesy of Jonathan Gildon of Realty Pros Assured

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Related posts:

  1. Will Surging Unemployment Crush Home Sales?
  2. Economic Slowdown: What the Experts Are Saying
  3. 4 Reasons This Spring Market Is Better Than Last Year
  4. Top Days to List Your Home for Sale [INFOGRAPHIC]

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James Jestes Broker Associate SRN Real Estate Pros

James Jestes


Broker Associate | eXp Realty
386-315-4744
James@JamesJestes.com
I'm Available Daily:
8:00AM to 8:00PM

Call, Text or E-mail!

"As an Associate Broker with eXp Realty, I am dedicated to helping families and individuals accomplish their real estate goals by providing dedicated service when buying or selling a home. I have served my country in the U.S. Army and the U.S. Marines; I bring that same sense of service and selflessness to every one of my customers."

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BUY AND SELL REAL ESTATE WITH JAMES JESTES

James Jestes Broker Associate SRN Real Estate Pros

James Jestes


Broker Associate | eXp Realty
386-315-4744
James@JamesJestes.com
I'm Available Daily:
8:00AM to 8:00PM

Call, Text or E-mail!

"As an Associate Broker with eXp Realty, I am dedicated to helping families and individuals accomplish their real estate goals by providing dedicated service when buying or selling a home. I have served my country in the U.S. Army and the U.S. Marines; I bring that same sense of service and selflessness to every one of my customers."

FEATURED LISTINGS

No Results Found.

SEARCH ALL OF THE GREATER DAYTONA BEACH AREA

Price

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Today’s Real Estate Information

  • 10 Great Homes For Sale In The Greater Daytona Beach Area
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  • What’s Behind Today’s Mortgage Rate Volatility?
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James Jestes, Your new favorite Realtor.

Hello my name is James Jestes and I am a Broker Associate with eXp Realty.  I am dedicated to helping you find your perfect new home. I’m a no hassle, no pressure agent here to help you accomplish your real estate goals. Please reach out to me and let me know how I can help you purchase or sell your home.

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James Jestes
eXp Realty
386-315-4744
James@JamesJestes.com

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