The Lehmann Letter (SM)
This letter has emphasized housing’s importance. Residential construction is flat. The economy won’t grow strongly until home building rebounds.
For validation of this view see Floyd Norris’s December 1 posting on The New York Times site:
http://www.nytimes.com/2011/12/02/business/time-to-accelerate-the-housing-recovery-floyd-norris.html?scp=3&sq=Floyd%20Norris&st=cse
Sad to say: It doesn’t look like any policy initiative will be successfully applied. That means the needed rebound will not occur.
(To be fully informed visit http://www.beyourowneconomist.com/)
© 2011 Michael B. Lehmann
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