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February 2, 2010 -
The "Catch 22" Housing Slump Is Not Over
We begin this week by looking at the latest report on the economy. GDP rose a bit more than expected in the 4Q, up 5.7% (annual rate). Despite that, many economists are downgrading their forecasts for growth in 2010. Following that, we will take a close look at the latest reports on the housing market. Despite the improvement in the economy, home prices continue to fall in most areas of the country. The housing slump is still not over, and this is a big reason why consumer spending is not likely to recover to pre-recession levels anytime soon. If you are concerned about the housing market, you will definitely want to read this week's E-Letter.
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