August 10, 2010

Labor Mobility is Down: What Does It Mean?

Americans used to move to where the jobs were. But these days, so many of them are stuck in mortgages they can't get out of that they can't move anywhere. According to this article, it's a trend that is expected to continue for a long time.

It once made sense for young people to buy houses as soon as they could before prices went up further. But these days owning a house can be a real trap, especially for a young person looking to get a career going. It's wiser to rent, at least for the foreseeable future.

No comments: