Nov 18
CalculatedRisk says:
And that suggests the recovery will be sluggish and unemployment will stay high for some time.
Why? Because housing investment (housing starts and new home sales) lead the economy. They depend on new household formation. New household formation depends on jobs. Jobs stink. So housing investment is light… Repeat.
Breaking out of the trap will be challenging and the political, economic and fiscal policies we have at work now only make jobs creation harder and less likely.