A recent article in The Economist indicates improvement in the US housing market. Historically, housing has tended to lead the economy out of recessions, and it has largely been weakness in the housing market that has hindered the recent economic recovery in the US. The slowness of the recovery of the housing market has been due to a massive oversupply of homes, resulting from overbuilding and foreclosures on mortgages, and the slowness of lenders to deal with troubled loan portfolios.
Link to the article: Pulling its Weight at Last
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