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From Chesterfield to Manhattan, only jobs will fix housing

…The head of New York real estate appraisal firm Miller Samuel made news this week when he told Yahoo Finance that a real recovery in housing won’t happen until unemployment gets down to 6 percent….

…Granted, home prices are up 12 percent, but that “is based on nothing,” said Jonathon Miller of Miller Samuel….

…The reported increase in home prices is based largely on investor speculation, not homeowner purchases, Miller said….

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#Housing analyst, #realestate, #appraiser, podcaster/blogger, non-economist, Miller Samuel CEO, family man, maker of snow and lobster fisherman (order varies)
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