Members of the Federal Open Market Committee (FOMC) in
their March meeting revised down their expectations of
gross domestic product (GDP) growth because of a leveling off in housing
activity.
Weak state and local government spending, as well as substantially
reduced household income in the second half of 2009, also contributed to
the FOMC’s downward projections.
Despite government interventions, housing remains a key concern in
the US. For example, housing starts remained flat while ...
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