Depressed market stopping executives from relocating
Published September 5, 2008 by CSBJ Staff
It appears that a real estate market that offers slow home-value appreciation is making corporate executives think twice before relocating.
More than 70 percent of respondents to a study by Worldwide ERC, a relocation services industry trade group, offered “slowed real estate appreciation/depressed housing market at the old location” as the reason being averse to moving.
That number is up dramatically from last year, when only 16 percent of respondents mentioned it as a reason.
The cost of relocating executives also has increased since many of those who are heavily recruited are demanding that their new employers buy their existing homes, or guarantee a sale within a specified period.
Filed under CSBJ Daily