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Home Front

A blog about the economy and the Sacramento-area real estate market.

December 1, 2008
It's now a recession

   This won't come as any surprise to people living around Sacramento, but it's now official. The recession is under way.

   In fact, it started one year ago.

    The National Bureau of Economic Research, a nonpartisan group in charge of determining when recessions start, made the call this morning. It said the economy began declining in December 2007, ending 73 months of expansion.

   The big 1990s boom, by contrast, lasted 120 months.

   

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