Housing Slow Down Hurting Economy According To Bush Aide
While the rest of the economy is charging ahead, the housing industry’s slowdown is affecting the economy as a whole and will bring down the growth numbers according to a top White House Aide.
While this is not a surprise, we have to be thankful that the rest of the economy is in an upturn and doing very well. If the housing slowdown had hit in a general recession the effects could have been much greater.
The cooling market will affect “a very significant chunk” of the economy’s growth in the third quarter, the adviser, Edward P. Lazear, chairman of the White House’s Council of Economic Advisers, said in an interview. The housing slump “is going to hit us,” he said.
The economy is expected to be among the issues considered by voters when they go to the polls Nov. 7.
Mr. Lazear would not predict how much the economy grew in the quarter from July through September. Many private economists are forecasting that the gross domestic product grew at a rate of 2.1 percent in the period, which would be the weakest performance since the last quarter of last year. At that time, the economy was still reeling from the Gulf Coast hurricanes. via the New York Times.
Very funny comparison. However you don't need to pay property tax on Barbies 3 Story Dream House. With the unemployment ...
My wife has actually decided to study for and get her real eatate licence just so we dont ever have ...
I like your analogy in this article. The real estate economy really is like a patient who you cannot ...
Real Estate is hyper-local. Every market is different. Phoenix has already hit bottom and is starting to recover. We have ...
Great to hear that the big boys
are predicting recovery sooner than
most think.
Thanks for the value! 
I agree--good analogy. You have to crawl before you can walk. Right now, at least in Austin, many people would ...
I live in the Philippines and I am glad we are not on the lists... 
I have a few Litograghs of Presidents homes , made by Richard V. Sebring. yr. 1990 Do they have any ...
