Economy is caught in a real-estate Catch-22
If it sounds like a Catch-22, it is. If it also appears that this economy will continue to limp along for some time to come, it is likely as well. In case you did not know, housing is the country’s largest industry. Besides providing loads of construction jobs, it also supports such sectors as home furnishings, repair and modernization, retailing in general, and, of course, sales people who work in various aspects of real estate. Looking at the other side of the coin, housing is also partly responsible for today’s high rate of unemployment and the difficulty those out of work have in finding a new job. This is because the lack of buyers means that it is extremely difficult to sell a house, thus preventing some job seekers from relocating in order to take a new position.