02.04.2013 - Americans can move house again
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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