Monday, October 10, 2011

No jobs, no home buying - comments from the web

55% unemployment exists for age group 18-29

Employment is what matters. Even with interest rates in the basement, one cannot pay a mortgage without a job. The U-6 for people under 30 is in the 25% range. Even if family formation was at ‘normal’ levels, these people will not be buying homes. Without first-time buyers, there’s no move-up buyers. The downward spiral continues on...

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