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Finance & Accounting
Pages 4 (1004 words)
Student's Full Name: Professor's Name: The Housing Industry (Finance, Money, and Banking) 07 June 2013 (estimated word count = 1,475) Introduction The latest data showed the United States economy is still limping along five years on since the start of the Great Recession in late 2007.
Despite the billions of dollars infused in federal stimulus bills such as the JOBS (Jumpstart our Business Startups) Act, the economy is still in fragile health; even the Federal Reserve Bank has employed all the monetary tools at its disposal to revive the economy, such as a continuing a low-interest rate regime and the use of quantitative easing programs to pump more money into the economic system. The American economy is one of the largest in the world but its main foreign market of Europe is in a financial and banking crisis itself. In other words, there is no hope for most American firms to export their way out of the recession, as the global economy is also weak. The United States of America is also facing various financial crises, such as in the retirement savings system which saw 401k savings accounts wiped out by the collapse of stock markets. Demand is also weak, as consumer spending is adversely affected by the loss of confidence. This paper examines a vital sector of the United States economy, the housing sector. It is a vital component of the construction industry, which is a major driver of the domestic economy. Construction, in particular residential housing is a substantial contributor to jobs, investments, and income levels as it employs a good number of workers. The housing sector is not fully recovered from the housing bubble, in which prices grew so fast but collapsed. ...
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