One person's thrift is another's unemployment.

I found this recent New York Times article thought provoking.
"As graduates move back home economy feels the pain." As it says, when adult children move in with their parents to save money many others lose out and the economy is deprived of the revenues that spending on forming a new household bring.

I see the point as being that until people start feeling sure of themselves financially, this will continue to go on. In this article, one young man is saving his money to buy a home someday. But like many others, including the wealthy, he is holding back waiting for the right signals to start buying.

Until the real estate market stabilizes this is going to be a recurring problem. Meanwhile we are still seeing people who are unsure which way to move going forward. Many people are looking to mortgage modifications as a way out short of bankruptcy. Efforts to make the mortgage modification process more predictable and user friendly would go a long way to getting the nation back on its feet.

For more about the ways people can get back on their feet, please visit our website at http://www.nv-njlaw.com.