The housing market has been going through a very difficult time over the years and according to a section of financial analysts, it needs about three more years before it becomes stable. There is a lot of information in the media that indicates that the housing market is recovering but in reality, there are some factors that are slowing this recovery process down.

One of the things that is making the recovery a little slow is the fact that the rate of unemployment in the country is still high. The people who have lost their source of income find it easier to move in with friends and families instead of renting cheaper houses. Some families are also moving into smaller homes to save.

Another reason why the market is taking long to recover is the rise in the number of foreclosures. Most Americans are settling for foreclosures instead of going bankrupt.