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Housing Staves Off Economic Downturn.(Brief Article)
Thanks in large measure to a surprisingly strong housing market, the economy won't fall into a recession, an industry economist predicted at the Mortgage Bankers Association's National Secondary Market Conference in Orlando last week.
"Up to this point, housing has been the real savior in preventing a recession," said Doug Duncan, the MBA's chief economist. "And that should continue until the rest of the economy turns around."
Mr. Duncan cited several reasons for the "terrific" housing sector, including the fact the home builders have remained fairly conservative.
Builders have "stayed within the market," he said. "They are not rushing out and building ...
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Source: HighBeam Research, Housing Staves Off Economic Downturn.(Brief Article)