Will Housing Lead Us Out Of The Recession?

Looking back to the beginning of the current recession, there were two things that initially put the brakes on the economy: 1.) the sub-prime melt-down and 2.) virtual halt of residential construction. They go hand-in-hand. As new homes are constructed, many were being bought by those wanting to upgrade. In turn they had to sell their house.  Eventually, as new home construction expanded while the buying population shrank, the only way to feed the beast was to expand the sub-prime market. Like most houses of cards, ultimately it failed. Has housing finally hit bottom?

Read more…