“…The employed remain worried about their own job security, which they see tied to overall U.S. economic health…”
- 41% of respondents in the Housing Market Index indicated that they had lost sales contracts due to buyers’ inability to sell their current homes
- This is an example of the unemployed impact on the broader marketplace, where it impedes the fluid economic progression of the employed, or the healthy market participants
- The traditional argument holds that although the old home must be sold cheaper than preferable, a new home is also acquired at better value
- These buyers worry about the future of the real estate market, specifically the risk of losing value post closing
For more: http://seekingalpha.com/article/288177-housing-insight-from-home-builders
