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Housing Downturn Drags on Economy.
Washington -- It's not just loan performance that has suffered as a result of the housing downturn. The whole economy has received a jolt, according to a research note from the Mortgage Bankers Association.
The MBA estimates that residential investment has accounted for 5% of gross domestic product during the past 10 years. But in 2006, for the first time since 2005, a decline in residential investment actually subtracted from national economic growth.
And that trend ...
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