One of the key components we need for a healthy real estate market recovery is Jobs. If you don’t have a job, it is rather difficult to buy a home. Unfortunately this report is bad news. We are back up to 7.2% unemployment rate in Minnesota.
For your property values to recover, we need people working. If this trend of higher unemployment continues in Minnesota, we will continue to see the housing prices fall.
- Mortgage Delequincies falling (S&P Experian reports) (craigkamman.wordpress.com)