The fiscal cliff and housing

The housing market has finally improved and it looks like the worst is behind us. However if the Washington dummies fail to resolve the fiscal cliff, housing is in trouble.

Fiscal cliff could cost the U.S. two million jobs next year and cause the unemployment rate to stay stubbornly stuck above 8% through 2014. Fewer jobs could translate into less demand for new homes, possibly even a new wave of foreclosure filings as newly unemployed workers struggle to make mortgage payments.

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