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UCLA report predicts housing slowdown

“UCLA’s Anderson Forecast noted that 8 of the last 10 recessions were started by slowdowns in the housing market. It also predicted that U.S. housing construction would begin declining in 2006. But don’t panic: this forecast said this may drag down the economy, but it won’t start a recession. Among the trends over the past year that the report cited were a decline in new home sales; a downward trend in home construction (yesterday, it was reported that in October new home construction was down 5.6% from the year-ago period); and fewer applications for home mortgages since late September as rates have increased.”

Written by Keith Byrd - Go to Keith's Website/Profile