David Crowe, chief economist for the National Association of Home Builders (NAHB), recently reported on the possibility of a double-dip recession in NAHB’s Eye on the Economy e-newsletter, considering disappointing employment growth, weak housing demand, and several signs of an improving economy. Despite a discouraging pause in recovery, Crowe advises, several economic indicators will support continuing—though modest—growth.
Overall, NAHB economists are maintaining a positive outlook for the recovery, predicting that the unemployment rate will stabilize at the current 9.5 percent by the end of 2010, which, combined with future job growth, will help drive the housing recovery. Also predicted are slight improvements in house prices through the end of 2010 and into 2011.
