A year ago, when things were merely “bad” in Michigan, I spoke to a friend who is a corporate headhunter. At that time he said there were many many mid-level management types in Michigan desperate to get out, as there was nothing there. The problem...because everyone wanted out, everyone wanted to sell their homes. No sales market, and they were stuck with mortgages they could not get out under.
At some point they were just going to have to cut the losses and leave. I wonder if we are already past that.
Hope and Change. They had hope, they got change.
I am not plugged into real-estate that much to give you a yay or a nay. What I do see is more middle age guys volunteering at school because they lost their jobs. One friend who is in a technical-hands on type, cannot find work for love nor money nationwide.