Unemployment Can Affect Your Plans To Buy a Home
The coronavirus pandemic has led to record-high unemployment rates not seen since the Great Depression. And this is particularly worrisome for would-be home buyers.
If you were among the 23.1 million Americans who were laid off or furloughed, you might be worried about your financial future. And if you were hoping to buy a house—either now or in the next few years—you might also wonder how your current jobless status might affect those plans.
While the situation might seem dire, unemployment does not mean that home-buying plans have to be put on hold for long.