Economy

Falling Home Prices Push Rate Of People Relocating For Jobs Near Historic Low

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The percentage of people moving to take new jobs is near a historic low, a new study shows, in large part because the housing crisis has made it harder for homeowners to get out of their mortgages, the Huffington Post reports. Falling home prices have made it harder for job-seekers to move, as they often owe more than their homes are worth. Companies with openings, meanwhile, are less willing to help offset those losses and have restricted relocation assistance programs that help job seekers move, even as American corporations sit on record profits. The result, as the report states, is that “for now, many people are stuck,” unable to move to take available jobs.

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