August 30th, 2006
Yep, There’s a Housing Slowdown
As if we needed any more proof, we were able to draw up this nifty little chart from this morning’s GDP Release. It shows the direct contribution to GDP growth (i.e. the 2.9% headline number in today’s release) that was contributed by growth in residential fixed investment (source: Bureau of Economic Analysis).
Keep in mind, this shows only the direct impact, on housing construction itself. The total effect will include mortgage brokerage, real estate brokerage, any impacts on consumer spending….
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