Long term unemployment rates
With the U.S. Labor Department reporting that 25% of all unemployed people being unemployed for over 52 weeks and Fox News reporting today that one in five American men are unemployed, the housing market in areas most highly saturated with high long-term unemployment is likely suffering.
When homeowners are unemployed and can’t find work, they can’t pay their mortgage and when they are fearful of losing their job even when employed, sales suffer.
The drumbeat of employment rates = healthy housing has echoed here at AGBeat for years.
Click below to take a look at the WSJ’s interactive infographic to vieww long term unemployment by state:
small houses
July 26, 2011 at 5:39 pm
Yes, there is a direct connection between home sales and the unemployment rate. Sometimes I see pockets of hope for home sales in the U. S. like Denver or Phoenix and a few other places but when unemployment bumps up or stays the same it just doesn't bode well for housing.