The US economy shows sign of recovery and stability in the areas of jobs and real estate. Jobless claims have dropped dramatically last week, according to the New York Times in an article titled “Jobless Claims are Lowest Since July 2008.” Applications for unemployment benefits dropped by 34,000. President Obama signed a new tax bill on December 16, 2010, which extended Federal unemployment benefits for another 13 months, reported MSNBC in an article titled “Obama signs tax cut bill into law.”
Real estate development, despite the recent economic conditions, has continued to attract investment loans from banks. Many large real estate development corporations had suffered gigantic loses during the current recession, according to the New York Times in an article titled “For Real Estate Developers, Failures Hardly an Obstacle.” However, these developers were still able to garner bank loans for further ventures, despite multi-billion dollar losses.
Job market improvement and banks’ willingness to still invest in real estate development may lead to an overall economic recovery.
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