The housing market has still not recovered. In fact, new home sales are at a 47-year low. Increasingly, the jobs situation is being blamed for the slow housing market. There are too many unemployed people; not only can they not buy houses, but their large numbers makes those who are employed afraid to buy houses, because they worry that they could be the next to lose their jobs.
This long stretch of unemployment is caused by more than just the poor economy. Many of the jobs have been lost to automation or off-shoring and aren't coming back. We can't tell our children to aim for a single career. They'll have to be versatile and self-reliant in order to support themselves.
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