Higher Home Prices Likely to Lead to Surge in Employees Quitting Jobs

John Challenger of Challenger, Gray & Christmas

With the recent report on home prices showing the biggest year-over-year gain in more than six years, one employment authority predicts a surge in relocation by job-seeking homeowners in 2013, which could ultimately help to accelerate the decline in unemployment rates.

“One factor that has kept unemployment rates high has been the inability of underwater homeowners to relocate for employment opportunities.  With home prices bouncing back, even those who may now simply break even on a home sale might consider moving to a region where jobs are more plentiful.  This could spark a more rapid decline in the unemployment rate over the next year,” said John A. Challenger, chief executive officer of Challenger, Gray & Christmas, Inc.  Continue Reading