Housing Will Not Save The US Economy

Dated: April 25 2014

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The horrible drop in new home sales that came in from the U.S. Census on Wednesday underlines the assertion of Princeton economist Atif Mian and the University of Chicago’s Amir Sufi.That is, their assertion that the housing industry doesn’t have the depth or capacity to save the U.S. economy.

“Exactly a year ago from today, one of us wrote a short piece entitled ‘Will Housing Save the U.S. Economy?’ The conclusion was pessimistic,” the two say. “We need to temper our optimism on what a housing recovery can do…

But we will not be returning to the boom years that preceded the Great Recession. The days when housing was the predominant force driving economic activity are gone…
A year after their prediction, they seem to have hit the bulls-eye. Read More Here...
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Mark Ross

For Mark Ross, founder of Ross NW Real Estate and professional real estate broker, real estate has always been the career of choice. During his 30 years in the industry, Mark has gained experience in ....

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