The media and financial talking heads continue to credit housing for the recovering economy. As reported here last week the housing market despite improving remains tepid with existing home sales running at 80% of healthy nearly four years after the end of the Great Recession.
New construction languishes at 40% of healthy. Soon you will be treated to reports that construction is picking up in the spring. That’s like saying temperatures will rise in the spring.
What is the key to a real recovery? Jobs.
What will lead to job growth? A confident consumer with disposable income....