Housing Decline to Drag U.S. Economy - 2006-01-03
The weakness in the housing market is expanding, with home sales going lower in recent weeks and mortgage applications dropping, in what analysts expect to become a drag on the economy. The hot housing market has driven a third to a half of the growth in jobs and economic activity in recent years, economists believe. This bonanza is gradually coming to an end.
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Business spending to power the US economy to fifth straight year of expansion in 2006 - 2006-01-03
Healthy spending by businesses should push the US economy to a fifth consecutive year of growth in 2006, according to a survey of economists' forecasts. A weaker housing market is likely to drag down the overall pace of growth. Some economists believe that the real estate boom has been responsible for generating over one million American jobs since 2000.
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