The continuing drain of the real estate sector on the economy will have a strong impact on unemployment rate for the forseeable future.
Dallas, TX (PRWEB) September 23, 2011
With unemployment remaining high, the U.S. real estate market has stayed low. The most talked about items today are home foreclosures and sale price reudctions. The rate of vacancy in the US is 12% and showing no sign of improvement. According to unemployment-extension.org, the high demand for jobs shows unemployment can be attributed to the slump in the real estate market.
Although home prices and low interest rates are now a national trend, this has not led to an increase in home buyers according to Unemployment-extension.org. Strong lending restrictions are preventing mortgage brokers from helping future homeowners in their real estate purchases.
There is also a large number of foreclosed homes entering the real estate market, which is distrubing. Unemployment-extension.org has found a positive correlation between the poor state of the real estate market and more individuals looking for help from unemployment extensions. "The continuing drain of the real estate sector on the economy will have a strong impact on unemployment rate for the foreseeable future," says Mike Jonah, VP of Unemployment-extension.org
Recently, states such as Idaho and Michigan have approved the implementation of laws extending unemployment benefits. As these programs demonstrate success, more and more states across the nation are proposing similar legislation.
According to Unemployment-extension.org, unemployment can lead to large economic problems, including reduced cash and assets for those affected, which is why unemployment extensions could be the right solution for many communities.
For more inquires, visit http://www.unemployment-extension.org