Unemployment Must Improve Before we See Housing Market Recovery

Unemployment figures throughout Europe and the US are reaching alarming levels, even though some recent figures suggest an improvement there is still a long way to go.

The cycle of high unemployment numbers leading to a downward trend in the housing market is nothing new, or complicated to comprehend - job losses lead to none payment of mortgage, the banks then go after the property, then the property is sold at auction for what the banks can get for it, leading to a downward trend in prices.

A true recovery cannot be realised without a healthy, properly functioning economy and even though there has been an upsurge is new housing in the US, which is good news, inertia in the worldwide property markets will ensue until more stability appears within job markets globally.

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