But lets focus on the positive. Housings comeback is the most important economic story of the moment, and maybe the year. Heres why. If residential investment simply returns to its long-term average going back to the 1990s, “it would add 1.7 percentage points to overall growth in the coming year,” Neil Irwin writes, putting overall growth in the coming year at about 3.2%. Now thats something you could call a recovery.
Notice the portraits on the wall! FDR and Stalin, now there’s a pair!