If housing’s the economy’s engine, it better get a jump start

Talk in the home builder and developer trenches going into this past weekend waxed academic, focusing on an analysis that flashes harsh light on the realWall Street Graphity of a rebound. Then, lo, authors of said analysis, Steven Gjerstad and Vernon Smith of Chapman University (Orange, Calif.), show up with an op-ed piece in the Saturday Wall Street Journal. Briefly, they say, recoveries just don’t get going unless housing gets going first. Likely take-away? Policy makers won’t be able to resist more plans to fix housing. Read more…

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