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6 Reasons the Housing Market Hasn't Recovered

I just read and article titled, 6 Reasons the Housing Market Hasn't Recovered by Luke Mullins , U.S.News. I believe his reason are a little off and quite frankly all of them are a byproduct of one thing and one thing only, the economy is not in good shape. I have to laugh when headlines read “Housing Market continues to Drop” or something along those lines. Not too long ago we were in a recession, some people would say we still are or are heading into another. Here is my take on why housing continues to drop:

1. People lost their jobs

2. People were forced to take pay cuts to keep their job

3. People were told they will be losing their job in the future

4. People can not find jobs

5. People are not confident with their current employment situation

The above items are the main reasons why housing continues to slump. The above reasons create a domino effect the trickles down to the housing market. The housing market is the tail and the economy is the dog. The housing market is not going to get better until the job market improves. Period.

All I can say is hang in there. If you have problems paying your mortgage. Call the bank and try to get a loan modification. I know that it can be very frustrating and time consuming, but it is worth a try. I have done it and I know that it can be done.

Good Luck!