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US: Can housing power the economic recovery?

Posted on 05 April 2013

Economic recoveries usually begin at home. Even though the housing construction has historically only accounted for roughly 5% of America’s economic activity, that number tends to rise following recessions, placing a disproportionate burden on the housing sector to lead the economy to recovery.
Why is this? There are several reasons. First of all, since a new home is usually the biggest purchase any of us will make, we tend not to do it during recessions. Recessions cause housing demand to become pent up and then released once a recovery begins. Secondly, investment in a new home usually necessitates many other big ticket purchases like furnishing and appliances. ……………………………………….Full Article: Source


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