Tuesday, October 17, 2006

Housing Decline could cut job growth by nearly a third

A decline in housing construction has always signaled a slowing economy. But an article by Bob Willis of the bloomberg news points out just how much a slow down in housing can affect the national economy. He writes that, by the middle of 2007, job growth could be cut by nearly 27 percent.

That's pretty staggering for an economy that's been growing for so long. In fact, job losses that are housing-related are estimated to be as much as 1.2 million over the next couple of years.

Surprisingly, the article I read didn't mention the political implications of this. The housing decline, and its consequent effect on the national economy, will be in full swing as the presidential campaign season begins to heat up.

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