Housing Market Stumbles, Can Economy Soar?
An unstable housing market may have plunged the U.S. economy into a tailspin, but according to Steve Goldstein at MarketWatch, the recovery may no longer be dependent on the health of the real estate market. Are we seeing, for the first time, a departure from the kind of rhetoric that defined the American Dream? Has the value of homeownership been irrevocably tarnished by the recession? Can the economy recover -- independent of home values?
The latest consumer confidence numbers seem to suggest so. But can the economy ever truly soar without a healthy housing market?
Read on to find out.