Friday, June 3, 2011

Pundits are finally acknowledging that housing must recover for economy to recover

By Charlie Cook

Last week’s confirmation that the gross domestic product grew only 1.8 percent in the first quarter came when economists were already busily revising their growth forecasts downward for the rest of this year. A double-dip recession remains unlikely, but this is the weakest recovery since the Great Depression and the first one not being led by housing. The nearly moribund housing sector is, in fact, weighing down the recovery.

Read the rest of Charlie Cook's commentary in the Cook Report at by clicking here.

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