Housing Will Not Save The US Economy

Dated: April 25 2014

Views: 471

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...
cb
Blog author image

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 ....

Latest Blog Posts

Why Fall Is A Great Time To Plant In Oregon Gardens

Come spring, excited gardeners drive to nurseries, load up their cars and go home to plant. That’s tradition. But fall planting also ranks high as a time to put plants in the ground.Nurseries may

Read More

Fannie Mae Cuts Origination Forecast For 2022

Limited inventory, supply chain disruptions and concerns about inflation have led economists at Fannie Mae to lower their mortgage origination forecasts for the remainder of this year and into 2022

Read More

How Long Does A Home Seller Have To Respond To An Offer

When you make an offer on a house, you might be wondering: How long does it take a home seller to respond to your offer?There’s nothing worse than sitting around waiting—especially when you’re

Read More

Forbearance Numbers Fall As Borrower Exits Remain High

Servicers’ forbearance portfolio volume fell once again last week, as exits remained elevated compared to requests or re-entries. The total number of loans in forbearance dropped by eight basis

Read More