The housing market surges ever so slightly last month fueling hopes of recovery for the market that has suffered heavily ever since the market crashed last year. Life in the business has been brutal with not much to show for in sales, till this last month but the movement is being met with skepticism due to past disappointments. The real estate market has been in a continuous dive since the sub-prime market collapsed sending agents out of their previously respectable salaries, and homeowners out on the street. Unable to pay their mortgages, more and more people faced defaulting their homes adding to the already miserable housing industry statistics showing utter helplessness.
The economy has not fared any better for with collapsing markets comes rising jobless rates that are some of the biggest in past history. The economic turmoil is now being compared to the Great Depression, the last big economic collapse that sent millions out of work onto the streets and economic growth stood still. The economic stimulus bill of the new administration is doing little to boost the economy, fueling the opinion of economic experts who have been saying such.