The housing market is getting back on solid ground but has been stuck locally due to a need for buyers from the younger people and first time home buyers.
The steady but agonizingly slow growth of employment is keeping people from buying. Chief Economist with Trulia, Jed Kolko says "The boost to young-adult employment is especially important right now," he said. "The less the recovery can depend on the engine of investors, the more the housing market will need to rely on young adults entering the housing market, first as renters and eventually as buyers."
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