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Real Estate’s Far Reach to Continue to Pinch US Economy

This article is from the WSJ and talks about how residential and commercial real estate itself is a small share of the US economy but it large reach is slowing the economic recovery.  Its four main points are:

1. Less construction means fewer jobs

2. Home owners who once felt rich are feeling poorer

3. Small businesses aren’t borrowing as much

4. Lower real-estate values translate into lower property taxes, crimping government spending

As I mentioned several times before, job creation is what will get us out of this recession.

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May 12, 2010 - Posted by | Uncategorized | , , ,

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