And these are not the best of times. Right now, economic distress is concentrated in the states with the biggest housing busts: Florida and California have experienced much steeper rises in unemployment than the nation as a whole. Yet homeowners in these states are constrained from seeking opportunities elsewhere, because it’s very hard to sell their houses.
Monday, June 23, 2008
Home Sweet Home?
Krugman has a great NYT Op-Ed talking about the downsides to home ownership - something we never hear. Well worth a read. This quote was interesting.
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