Relevant:
- Keepin' It Real Estate: Why Housing Prices Are Essentially Meaningless
- Outlook Dims, Even for Non-Bubble Housing Markets: Report
- Why the Fed can't put out the fire
- The inflection point has arrived in Southern California real estate
- Less than half of U.S. cities are affordable for people who earn a median income
2012-09-16 — marketwatch.com
``According Fiserv chief economist David Stiff, the unemployment rates and languishing home prices in these markets are indicative of the underlying problems in these states as a whole. "The reason the job markets are so weak in these metro areas is that during the boom more than half of the growth was generated either directly or indirectly by residential real estate, and so now the reverse has happened," Stiff explained. ''
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