Real Estate Recovery
Does the Economy Need the Housing Market to Recover, or does the Housing Market need the economy to recover?
How long will it take for the real estate market to recover, and does the overall economy need the real estate market to recover, before it will recover?
So much of the economic growth, and number of jobs was related to real estate, large percentages of these jobs were lost when the housing market crashed. Obviously it never can be as robust as it was during the housing boom, but if builders get more homes built, and more homes sell, the economy will take some big steps towards recovery.
I know that 6 years ago it was estimated that 1 in every 5 jobs in Utah was related to real estate in some way. Being that real estate output is 30-40% less than it was at the housing boom, that’s a lot less jobs. If real estate output increases by lets say 10%, that could reduce the jobless rate by 2% or so….. We just need people who can qualify and buy houses. It’s a strange cyle…
Being that I’m in the real estate leads business. This is a very important topic to me. I’d love to hear the thoughts from my new friends.
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