Housing improvement may herald return of U.S. workforce mobility

The New York City Housing Authority Housing Developments on the Lower East Side (bottom C) is seen in New York, in this October 26, 2009 file photo. Credit: Reuters/Shannon Stapleton

The New York City Housing Authority Housing Developments on the Lower East Side (bottom C) is seen in New York, in this October 26, 2009 file photo.
Credit: Reuters/Shannon Stapleton

reuters_logo

NEW YORK/WASHINGTON - When David Pendery, a corporate public relations specialist, decided to move his family from Colorado to Illinois this year for work, his biggest worry was whether he would be able to sell his home quickly.

It took just three days.

"We certainly thought selling our house would take longer," said Pendery, who started in February at Kerry Ingredients, a flavoring provider for the food and beverage industries.

Pendery's experience may be on the extreme side, but his case may be a sign of a revival in one of the historical advantages of the U.S. job market: the ability of workers to go where the jobs are.

For much of the past five years, falling house prices effectively locked people in their homes, since many were "underwater" - owing more on their mortgages than they could raise by selling.

At the same time, double-digit unemployment across much of the nation meant there were few jobs to move for anyway.

By Steven C. Johnson and Margaret Chadbourn (Reuters) | Mon May 13, 2013 3:27am EDT

[button-black text="READ MORE" Full Story" url="http://www.reuters.com/article/2013/05/13/us-usa-economy-mobility-insight-idUSBRE94C04520130513"]

 
 

News Sources

  • ABC
  • Access Hollywood
  • Associated Press
  • BBC
  • Bloomberg
  • Boston Globe
  • C-SPAN
  • CBS
  • Chicago Sun-Times
  • Christian Science Monitor
  • Center for Public Integrity
  • CNN
  • Congressional Quarterly
  • Democracy Now!
  • Digg
  • E! Online
  • Entertainment Weekly
  • Financial Times
  • Forbes
  • Foreign Policy
  • Fortune
  • Front Street Magazine

  • U.S. News, World News
  • Business, Politics
  • Entertainment, Sports
  • Art, Lifestyle
  • Videos And More
  • News Sources

  • Fox News
  • Google News
  • Guardian
  • Huffington Post
  • Independent
  • LA Weekly
  • Los Angeles Times
  • McClatchy
  • Mother Jones
  • National Journal
  • NBC New
  • New York Post
  • New York Times
  • Newsweek
  • Newsy
  • NPR
  • PBS NewsHour
  • People
  • Politico
  • Reuters
  • TPM
  • Washington Post
  • Thanks For Your Support!

    Advertisement
     

    Copyright © 2018 Front Street. All Rights Reserved.