The home building market took a huge hit over the last several years. As home prices dropped and left many people underwater, the market tanked and left thousands of home builders out of a job. For a brief time, the new home buyer tax credit offered by the Obama administration steadied the market, but that has run out and home sales are down again.
The housing market is slipping all across the U.S. many major cities report that home sales are down and prices are falling. Many homeowners who were hoping to sell and move are now reconsidering their options. All in all, things look bleak for the near future.
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