No worries, NAR has things covered. If item one is solved, the other four items will solve themselves. As to post-foreclosure stress disorder, open house agents will be trained therapists, soothing the way into home ownership. Then there will be Lawrence Yun, NAR chief economist, recycling the announcements that the best time to sell or buy is right now.
or reverse wat Rosen said..." A healthy economy is critical to the success of the US housing market."
While the above is true from your thread as contributing reasons, the continuance of flat wages and little growth in well paying jobs does not expand the possibility of home ownership. Add in higher rents not allowing renters to save enough for a down payment.
Yep, the number of working age Americans “not in the labor force” has reached a total of 94.98 million. When you add that total to the number of Americans that are “officially” unemployed (6.86 million), you get a grand total of 101.84 million.
So how come some opportunist has not put this 100million + people to work building widgets to sell?
Has the world stopped buying widgets?
Has regulation killed the need for widgets?
Have we classified these 100million + people as too stupid to have a job because they don't have a college degree?
Just seems to me that 100million + people who have been freed from jobs they hate simply because those jobs had health insurance benefits, ought to be able to come up with some idea of some widget to make that would better the world and themselves.
Or maybe they lack funds for widget research, development and production.
RK, just for S&G; 102 Million not in the workforce or approximately 1/3 of the Entire population. Those numbers reek havoc with the perception that is being touted both politically and via News. Just wondering if you take those who have been slammed by College Debt and you look at the overall ability for purchasing power, you could probably note that 40-60% overall are submerged and have little to no ability to get above the debt existing.
The Housing Industry requires all aspects to be functional, Not dribs & drabs, for the economy to get back on track. Where are the aged Builders, the ones that have built dwellings over the past 30-50 years ? They got involved in other business's; that "Talent" will be hard to find again and when it happens, it will take time to rebuild it, just sayin. A track Record in building doesn't happen in 2 years; IMHO, I would be looking for the guy that has 10+ years in the Industry, it tells me he has the "Experience, Knowledge and Expertise" in dealing with the nature of building / DEP / Inland Wetlands / PZC Compliance and all the other incidentals required.