Economic & Housing Outlook from Freddie Mac.
While 2004 and 2005 were the years of the housing boom and 2006 the housing bust, early signs indicate that 2007 will be the year of recovery…
… any risks the housing contraction could spark an economy-wide recession are fading fast. After subtracting 1.2 percentage points from GDP growth in the third and fourth quarters of 2006, the drag from further declines in construction spending should peter out towards mid-year…