The Real Deal Miami

Jobs may be returning, but workers with negative home equity won’t relocate

November 16, 2010 02:27PM

With the employment market thawing more quickly than the housing market, Americans may become increasingly unwilling to relocate to chase down a new job. “More people are reluctant to move,” Jim Mallozzi, CEO of Prudential Real Estate and Relocation Services, told NPR. “The inability to sell their house or having negative equity is probably now the No. 1 reason why people are refusing a move.” Listen to the full segment above for more.