January 27, 2009
The Wall Street Journal quoted Professor Richard Green about disincentives for first-time homeowners. Rising unemployment and announcements of huge job cuts have sapped consumer confidence nationwide, discouraging some potential buyers from making a move, the story stated. "People rightly feel less secure in their future income," Green said. The housing market won't recover until the unemployment rate stops rising, he added.
The Wall Street Journal quoted Professor Richard Green about disincentives for first-time homeowners. Rising unemployment and announcements of huge job cuts have sapped consumer confidence nationwide, discouraging some potential buyers from making a move, the story stated. "People rightly feel less secure in their future income," Green said. The housing market won't recover until the unemployment rate stops rising, he added.