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The Outlook for Housing: The Role of Demographic and Cyclical Factors

By J. Filardo

Abstract

With the current U.S. economic expansion now in its sixth year, the economy appears to be on a path of stable growth. Such a development would be beneficial because it would foster steady gains in employment, income, and investment, all of which would help boost the overall standard of living. To maintain such a healthy course, most sectors of the economy need to be solid performers. The housing sector is an especially important component of the economy, having generated $1.5 trillion in output in 1995, or one-fifth of the nation’s gross domestic product (GDP). 1 Andrew J. Filardo is a senior economist at the Federa

Year: 2011
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