If Employment Drives Housing, then What the @##!?

The old common wisdom is that jobs drive the real estate market.

According to Yahoo! Real Estate News, South and North Dakota are by far the lowest in the nation for unemployment – 4.4% and 3.6% respectively.

So, why are their real estate market not booming?  According to Yahoo! Real Estate, both states have foreclosures up.  In North Dakota, inventory is also up.

Schiller Sees Double Dip Recession

With the U.S. economic recovery losing steam, the chances of a second phase of a slowdown are increasing, according to a leading economist.

Speaking in The Wall Street Journal’s The Big Interview show, Robert Shiller, professor of economics at Yale University, said he thought the second dip down of a so-called double-dip recession “may be imminent.”

Earlier this month, he told the Wall Street Journal he thought the chance of a double-dip recession, which he noted is a rare event, was greater than 50%.

More info –>>>http://online.wsj.com/article/SB10001424052748704147804575455370525902224.html