08 Aug, 2007 from washingtonpost.com - Robert J. Samuelson (washingtonpost.com)

Masters of the Economy

It's no secret that the housing industry is in a deep downturn. In its heyday, the real estate boom added 30,000 housing-related jobs a month (construction workers, mortgage brokers, real estate agents). Now, the bust is subtracting 15,000 a month, says Moody's Economy.com. In 2005, housing starts reached almost 2.1 million; Economy.com expects starts of 1.4 million this year. By mid-2008, it forecasts, median prices for existing homes will be down almost 9 percent from their peak.

Robert J. Samuelson Wed, 08 Aug 2007 00:00:00 EDT

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Source: http://www.washingtonpost.com/wp-dyn/content/article/2007/08/07/AR2007080701288.html?nav=rss_opinion/columns
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