US: Jobs
Report Signals More Trouble for Housing
"These
are the areas with the biggest home price declines during the housing
crash and which now have the highest vacancy rates.
“Job growth in clobbered metros was just 0.7 percent through April, slower than the national average of 1.5 percent for the same period,” Kolko adds, citing data from a report earlier this week.
The construction sector lost 28,000 jobs, down 3.3 percent from three months ago. This may point to lower housing starts over the summer, despite gains this spring."
“Job growth in clobbered metros was just 0.7 percent through April, slower than the national average of 1.5 percent for the same period,” Kolko adds, citing data from a report earlier this week.
The construction sector lost 28,000 jobs, down 3.3 percent from three months ago. This may point to lower housing starts over the summer, despite gains this spring."
CNBC article
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