Real Estate Blog

The slowdown in the housing market is impacting several other industries. Many of them we are aware of such as mortgage and lending, real estate, construction, etc. However, there are some which we may sometimes fail to remember.

Housing and related industries account for about 23% of the economy, according to the Joint Center for Housing Studies at Harvard University. They estimate that the decline in new and existing home sales of almost 10% in 2006 has already led to about 100,000 job losses, and will lead to further job losses in 2007 because the full impact won’t be felt until late this year.

Industries suffering from the housing slowdown and which are cutting jobs as well include:

This entry was posted on Friday, February 23rd, 2007 at 11:36 am and is filed under News. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.