A key factor inhibiting recovery is that the adverse conditions in the housing and mortgage markets have been, and continue to be, mutually reinforcing. As I am sure you are painfully aware, delinquencies on mortgages have risen sharply in recent years. By way of background, the problems began in the nonprime mortgage market.
Increasing and improving general education and supporting (re-)training are, instead, a priority to make growth more inclusive. A difficult balance needs to be struck between cushioning individual workers from the most disruptive effects of change and fostering the active adaptation of the individuals themselves and of society at large. There is ample scope for further research.