Latest Unemployment Numbers

According to the Labor Department, the U.S. economy shed 598,000 jobs in December. What does that mean for the housing market? In a nutshell: 598,000 fewer home buyers.

Statistically, you’d guess that a least a couple thousand of those laid off in December were at various stages of buying a home.

That means their Sellers are going to have to deal with busted transactions, and putting their homes back on the market. (As anyone who’s applied for a loan knows, continued employment is the major pre-closing lender contingency.)

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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