Is General Motors Laying Off 1000 Employees?

So if you’ve noticed earlier this week, General Motors has laid off over a thousand employees in Michigan, which includes about over 600 in Detroit and over 600 in Warren. And as you can see also, the US added 818,000 fewer jobs they reported in 2023 and in 2024.

So obviously this all can greatly impact the real estate market because if people are laid off and they have a hard time finding a new job that will meet their needs and they own a home, then they have a harder time paying for their mortgage, which, of course, would mean that there will be more homes brought to sell.

Same is true if they are renting a home, right? If they’re renting a home, the landlord may have to sell because they have a tenant who can no longer pay the rent. And so it doesn’t necessarily mean that the market will change to a buyer’s market because keep in mind, the interest rates are starting to come down, too, which means more people can afford to buy a home now, too.

So if you have any questions, please leave a comment below. Please share with anyone you think it’d be helpful to. And as always, close with Patrice.

This has been “Is General Motors Laying Off 1000 Employees?” by Patrice Henderson of Designed Living Real Estate. Be sure to subscribe to her YouTube channels for all your real estate tips, home tours and advice.

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