61. The housing industry, a backbone of the economy, is holding up reasonably well, and consumers continue to spend, the Fed said. 62. The mortgage bankers group, National Association of Realtors, and National Association of Homebuilders say it would cripple the housing industry -- and maybe the economy. 63. The main drag on growth, he said, came from the housing industry and net exports, which made only a negligible contribution. 64. The recent rapid decline in interest rates should provide some offset to the drag from Asia, as lower rates spur the housing industry. 65. They use a similar argument to deflect criticism from the housing industry, which has a huge stake in the mortgage interest deduction. 66. Those dollars also are increasing the incomes of construction workers and other people who supply the housing industry. 67. Tuesday, the government is scheduled to release reports on industrial production and factory use, as well as data on the housing industry, such as housing starts. 68. U.S. recessions almost always start at home, as high interest rates choke off the housing industry and unemployment spreads from the construction industry outward. 69. Traders reacted only mildly to a report that the housing industry continued to demonstrate unexpected strength, which in other sessions would have been interpreted as bad for stocks. 70. While the industry is facing a temporary setback, the outlook for the housing industry looks bright, industry experts said. |