High House Prices Make World Economy Resilient

Results from a house-price survey by The Economist suggests that higher higher house prices have helped shelter the U.S. economy from a deep recession.

1 minute read

April 1, 2002, 6:00 AM PST

By Abhijeet Chavan @http://twitter.com/legalaidtech

"Why has the American economy held up better than expected?...One explanation lies in the surge in house prices, where the Fed's interest-rate cuts have certainly worked their magic...For most people, housing is by far their largest form of wealth...Recent studies show that in most countries changes in house prices have a bigger impact on consumer spending than do equity prices."

Thanks to Abhijeet Chavan

FULL STORY: The houses that saved the world

Thursday, March 28, 2002 in The Economist

Housing United States

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