| The U.S. housing market “hasn’t bottomed out as quickly as we expected,” President Barack Obama pronounced earlier this month. What he really meant was that housing has been like an anchor dragging down the economy.
Normally at this stage of a recovery, home sales and new construction are engines of economic growth and job creation. Obama has resisted more ambitious programs in the belief that housing would recover once the overall economy did. Now it appears he must do the reverse: Lift housing in order to boost the economy..............................................Full Article: Source
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