Saturday, July 09, 2005

Boom in Jobs, Not Just Houses, as Real Estate Drives Economy: "If housing prices in the hottest markets actually begin falling, as some economists fear, the vast real estate sector could act as a drag on the entire economy. About 40 percent of housing booms in rich countries over the last three decades have ended in busts, according to a recent study by the International Monetary Fund. Busts almost inevitably led to recessions, the study found." —The New York Times