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Moving Companies Suffer Housing Market Bust

Homeowners are not the only people who are suffering from the poor conditions in the housing market. In the Los Angeles area, moving companies are receiving less than half the calls for jobs than they were at this time last year. Instead of nearly three hundred jobs this coming summer, one company is expecting less than one hundred. To some smaller relocation specialists, going out of business is probably the next step.

Two major economic problems are facing moving companies all over the nation. The exuberant fuel prices make it more expensive to move. Trucks, even smaller ones, cost quite a bit to drive, especially if the move is across any distance. On top of that, the real estate market is in such a slump, that most families are putting off moving and purchasing new homes until the outlook improves. When put together, these two issues spell disaster for moving companies everywhere.

For companies that only move households, and do not work for larger businesses, the current situation is hitting really hard. Some companies are selling off their assets to simply make payroll. At some point, these companies will have to give up the ghost and go out of business. At the same time, companies that also offer storage solutions are faring a little bit better. Lots of people and companies have simply put their things into storage in order to live and work in cheaper and smaller areas. 

At this point, many companies are simply trying to bide their time until the market improves. 


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