0 This post was contributed by a community member. The views expressed here are the author’s own. Real Estate There are many reasons unemployment rates affect the Real Estate market. But is the effect large enough to make an impact in Minnesota? Sheryl Petrashek , Local Business Posted | Updated Reply There are many reasons unemployment rates affect the Real Estate market. But is the effect large enough to make an impact in Minnesota specifically? Not really, and here is why. First and foremost, with a permanent and reliable job many feel ready to put roots down and buy a house. Secondly, people can only get financing for a home if they have a steady job. Finally, with a steady job, higher paying job or promotion many people choose to upgrade to a newer or more luxury home. How does this affect the Real Estate Market? I am to be realistic with my clients. The truth is more jobs are always good but the effect on the Real Estate market is marginal at best. Part of this is due to Minnesota's better than average economy and higher than average employment rate. Additionally, not all jobs are equally affected by the… Read full this story
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