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Real Estate Briefing - Categorized | Americas, Emerging Trends, Residential property Watch more

Americans can move house again

Posted on 02 April 2013

One of the biggest obstacles to improvements in the US job market since the Great Recession struck has been the fact that many Americans were stuck geographically, weighed down by an inability to sell houses that were “underwater”—that is, worth less than the mortgage on them.
That effects the efficiency of the economy. Put simply, a car mechanic with a family and an underwater house in Schenectady, New York is going to have a tough time getting one of the plentiful jobs in the North Dakota gas fields, even if his skills are somewhat transferable, because he can’t move his family. But that’s changing………………………………………..Full Article: Source


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Laxman - who has written 28515 posts on Opalesque Real Estate Briefing.


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