How Unemployment Is Dragging Down The Housing Market

by gettheminNOVEMBER Sat Mar 26, 2011 7:46 pm

http://www.huffingtonpost.com/2011/03/25/how-missing-workers-are-d_n_840570.html

Home sales are being dragged down by the weakness of the labor market and the number of Americans who have grown too discouraged to look for work, economists say. In previous recoveries, the housing market has sometimes buoyed the economy, creating new jobs and driving economic growth. This time, however, the housing market is now lagging behind.

Well I'LL be a monkeys uncle. How Unemployment Is Dragging Down The Housing Market 318754

How Unemployment Is Dragging Down The Housing Market 318754

by mistermunster Sat Mar 26, 2011 8:09 pm

Yeah, those di!@#$%&! in DC sure GOT they priorities straight, don't they? How Unemployment Is Dragging Down The Housing Market 318754

G

all those baboons!!!

by mistermunster Sat Mar 26, 2011 8:13 pm

• Those not in the labor force are not looking
• Those unemployed are not looking
• Those afraid of losing their job are not looking
• Those in a house and underwater are not looking
• Those just out of school and deep in school debt are not looking
• Those facing retirement may be looking to sell or downsize
• Mortgage standards are much tighter for those who are looking

All BS!! This like looking for a winning lotto ticket or actually FINDING bigFOOT.

How can YOU LOOK for something that isn't there, regardless of what the ELITES say.

by troycomic Sat Mar 26, 2011 8:58 pm

Yup, even when I do get a job I will not buy a house in fear of loosing a job again. Once bitten twice shy.

My credit took a hit so even if I wanted to buy a house it would be hard to get a loan. Plus I do not want to make bankers rich with all that interest.

Rather rent a house for $1500 a month than pay $2800 for a mortgage and taxes a month.

by mistermunster Sat Mar 26, 2011 9:06 pm

troycomic wrote:Yup, even when I do get a job I will not buy a house in fear of loosing a job again. Once bitten twice shy.

My credit took a hit so even if I wanted to buy a house it would be hard to get a loan. Plus I do not want to make bankers rich with all that interest.

Rather rent a house for $1500 a month than pay $2800 for a mortgage and taxes a month.

Thats ONLY if you can GET a job that pays thats much. $1500 in some places is someones whole months pay, OR LESS.

by **Jobless_in_Ma** Sat Mar 26, 2011 9:13 pm

Isnt that the truth. Ive lost moy condo filed BK etc, and now am renting a condo of same value as what I owned for almost 1/2, after condo fees mortgage taxes maintenance are considered.

Now I'm faced with moving back with good ole Mom in the next month or so....

by Nuwanda Sun Mar 27, 2011 7:46 pm

Im sorry to hear that JIM. I guess at least be happy you have a place to go to. I'm also living with family so I know how you must be feeling. Honestly though, in a lot of ways its helped too. Thank god it was an option.

by gettheminNOVEMBER Mon Mar 28, 2011 10:52 pm

by Guest Mon Mar 28, 2011 11:15 pm

Lost mine last year Jim, it was tough, but at least I didn't have to sweat the monthly payment. It would just have gone into foreclosure by Sept. I became a 99er in May, so I would have had the decision made for me. Took a loss and it hurt, but it was one less weight on my shoulders, as silly as it sounds. I just couldn't look to the future and keep on with the what if's, because look where we are today, in June I will be a 99er for 1 year. I never would have thought this would have happened.