Housing Industry Problems Dragging Down Economy

Publication: Atlanta Journal-Constitution

Author: Michael E. Kanell

09/14/2011 - It barely rated a mention during either the president’s speech Thursday or the Republican candidates’ debate the previous night.

Yet the moribund housing industry — and the record number of foreclosures tied to it — have been critical factors in perpetuating this weak economy.


Economic mobility also is undermined by the crisis, according to a study by the Pew Center on the States. “Housing in and of itself is a real important asset, the largest asset held by many Americans,” said Erin Currier, project manager for the study. “With housing’s collapse, we are seeing a deterioration of assets, and that has long-run aspects in terms of people’s mobility.”

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