Thursday, November 24, 2011

The Domino Effect Between Housing & Jobs

Good infographic on "how a housing crisis becomes a jobs crisis" from Tim Logan of the St. Louis Post-Dispatch.
"...The purchase of a house sets off a long chain of events.  The money spent to buy it and to live in it ripples through the economy, creating jobs. From a locksmith on Main Street to an investment banker on Wall Street, furniture factories to City Hall, people earn a living off that one transaction."

"We’re now experiencing what happens when people don’t buy houses.  Home sales in St. Louis have fallen by nearly one-third since before the recession. And the inability to change that has played a major role in an ongoing jobs crisis. Housing and jobs have become so intertwined that many experts say we will never enjoy a broad recovery until the housing market picks up. But without jobs, it’s hard to see how people can
start building and buying houses."

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