Will massive unemployment effect the housing market?

[Aaron Morrow]

Check out this article from KCM below:

Linke here: Will Surging Unemployment Crush Home Sales?

The main takeaway from the article is: "The housing market will have challenges this year. However, with the help being given to those who have lost their jobs and the fact that we’re looking at a quick recovery for the economy after we address the health problem, the housing industry should be fine in the long term."

What are your thoughts?

[Scott Passman]

There won't be a quick recovery, so yes, the housing market will be significantly impacted.  It's tough to know exactly how at this point, time will tell, but when thousands of businesses close down and millions of people can't pay bills it will absolutely effect real estate.  All the government and fed is doing is trying to throw quick band aids everywhere but every "band aid" they put on causes numerous other problems because things are being done so quickly without thinking through all the ramifications.  We are in for a bumpy ride, and like @Account Closed mentioned it will probably take 3-6 months to really start showing up. Opportunities are coming, so start preparing now.