Brian Berman President / Sr. Loan Specialist Mortgage Atlanta, LLC Phone: 678.564.1522 Fax: 888.727.0145 License: NMLS Company License # 184273 bberman@Mortgage-Atlanta.com www.mortgage-atlanta.com |
||||
February 2012
|
What's Labor Got to Do with It? The Impact of the Job Market on the Housing Market Being unemployed, under-employed, or afraid of losing a job is never easy. One of the first things many people do in these situations is batten down the hatches and minimize their spending. Certainly, the last thing on their minds is making a major purchase like a house. It's just not a commitment that most people are willing to make when they lack confidence in their financial stability. Although such decisions are made based on an individual's job prospects, they have a ripple effect that impacts the broader economy, including the housing industry. Here are three key points that shed light on specific ways that the labor market influences the housing market. Home Prices: A more secure employment market can help home prices stabilize, as fewer people are at risk of losing their homes to foreclosure. In addition, improvements in the labor market often open the door for more first-time homebuyers to join the ranks of homeowners. This can eventually help home prices improve. Home Size: If you are running a business and need to hire someone, during a good healthy labor market you may need to entice your top pick. How will you do that? Perhaps by paying them a competitive salary. And when someone is paid a good salary, one of the things they often think about doing is purchasing a larger home. The bottom line to remember in 2012 is that all real estate markets are local…and that means that there can be enormous variations across the country. In areas where employment is struggling, the housing market may continue to struggle as well. But employment is improving in many parts of the country, which also means the housing market in those areas will follow suit. If you have any questions about your situation or the housing market in the area where you live, contact the professional who supplied you with this month's issue of YOU Magazine. | ||||||||||||||||||||||||||||||
Georgia Residential Mortgage Licensee #24081; NMLSR Company ID# 184273; NMLSR Loan Officer ID # 184320. Mortgage Atlanta, LLC 601 Woodlawn Dr, Suite 340 Marietta GA 30067. Rate subject to change. Borrower must meet all lender, state, federal requirements. Each office is separately owned and operated. You are receiving a complimentary subscription to YOU Magazine as a result of your ongoing business relationship with Brian Berman. While beneficial to a wide audience, this information is also commercial in nature and it may contain advertising materials. INVITE A FRIEND to receive YOU Magazine. Please feel free to invite your friends and colleagues to subscribe. SUBSCRIBE to YOU Magazine. If you received this message from a friend, you can subscribe online. UNSUBSCRIBE: If you would like to stop receiving emails from Brian Berman, you can easily unsubscribe. Mortgage Atlanta, LLC |
601 Woodlawn Dr, Suite 340 Marietta, Georgia 30067 Powered by Platinum Marketing © Copyright 2024. Vantage Production, LLC. |