Credit Crisis and Grand Rapids Housing Prices

It is common knowledge that the housing market in Michigan has been in turmoil for several years. The primary problem for Michigan has been the loss of 147,000 jobs in transportation manufacturing. The loss of these jobs has resulted in the loss of many others that were linked to the 147,000. Since the end of 2005 the loss of jobs has been impacting the Michigan housing market, as fewer people have jobs that allow them to buy houses

Weakness In Grand Rapids Housing Prices

The weak housing market has been one of the most important business stories of 2007. A weak housing market decreases the value of a house. As a result, the wealth of the individual consumer drops, decreasing their financial security. There are many ways to measure the weakness in the housing market such as the number of house sales, foreclosure rates, and median house prices. However, for the homeowner the most important value should be the quality adjusted price index for housing in their area. A price index gives an idea of how prices are changing for houses with the same size, building materials, location, and many other characteristics

Innovation and the Business Cycle: A Comparison of the U.S. Semiconductor and Automobile Industries

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