Construction Spending In The US Down Again

January 14, 2009
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Construction spending in the United States has hit a downturn for the second consecutive month no thanks to the soft housing market which used to be a sizzling industry. The country’s construction spending in November last year went down by 0.6% but the slump is only half of the 1.2% reduction predicted by Wall Street. Construction spending also went down by 0.4% in October of the same year.

This is perhaps the worst slump experienced by the construction industry in over two decades and it does not end there because experts believe that the housing industry will keep falling until the surplus in unsold homes is significantly reduced. The reduction in…

Crisis forces people to stay home permanently

December 22, 2008
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The deteriorating economic condition has forced Americans to stay and own their homes permanently. Less people are moving out with the movement of only 38.6 million people noted between 2006 and 2007. This is even lower than the moving rate between 1982 and 1983 which is also a year of economic slowdown.

This is starting to worry real estate brokers who are faced with lesser clients to get commissions from. Add to this the surge in the number of people seeking work as real estate agents and you get zilch!