With the nationwide unemployment rate climbing above 10 percent, could 2010 see even more declines in real estate prices?
One of the most important influences on housing prices is the employment rate. When employment is high, people are more likely to purchase. In such an environment, there is optimism that if you lose your job, you will be able to find a new one.
Today, we’re facing some of the highest unemployment rates since the Great Depression. Is it possible that the housing market can make a recovery in light of these conditions? Here are several key factors to determine what is most likely to happen in your market.