New York Times (April 27)
The U.S. remains locked in a “deep and broad recession.” Every major housing trend indicates “a market that is likely to decline even more.” More specifically, house prices in 20 major cities fell to April 2009 levels, their lowest yet, based on the latest Standard & Poor’s/Case-Shiller home price report. Moreover, a Census Bureau report shows that “new home sales in March remained near their lowest levels since records were first kept in 1963.” An “all-out effort” is needed to put people back to work and stop foreclosures, but this looks unlikely. “Without a healthy housing market, there cannot be a healthy economic recovery.”
http://www.nytimes.com/2011/04/27/opinion/27wed2.html?partner=rssnyt&emc=rss
The U.S. remains locked in a “deep and broad recession.” Every major housing trend indicates “a market that is likely to decline even more.” More specifically, house prices in 20 major cities fell to April 2009 levels, their lowest yet, based on the latest Standard & Poor’s/Case-Shiller home price report. Moreover, a Census Bureau report shows that “new home sales in March remained near their lowest levels since records were first kept in 1963.” An “all-out effort” is needed to put people back to work and stop foreclosures, but this looks unlikely. “Without a healthy housing market, there cannot be a healthy economic recovery.”
http://www.nytimes.com/2011/04/27/opinion/27wed2.html?partner=rssnyt&emc=rss
Tags: Economy, Foreclosure, Recession, U.S., Unemployment
