Improvements in Housing Market Bring Greater Workforce Mobility
New trends show the American workforce may be regaining the mobility it enjoyed before the recession as home prices in major cities rise.
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.
New trends show that may be changing, as home prices in major metropolitan areas have been rising since early 2012, allowing the American workforce to become mobile again.