Housing and the 2008 Recession Ryan Ratcliff, Asst. Professor of Economics Jan. 16, 2009 Housing and the 2008 Recession Housing has been a drag on the economy since early 2006. Historically, housing slumps lead recessions by 8-12 months – predicting an early 2007 recession.
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Ryan Ratcliff, Asst. Professor of Economics
Jan. 16, 2009
US Real Residential Fixed Investment / Worker (2000 $)
US Housing Starts (000s SAAR)
Housing Slumps Lead Recessions by ~8 months
US Real GDP Growth (SAAR) by Category
Short Term Credit Spreads and US Non-Farm Payroll Employment (Peak=100)
CA is over-exposed to the cause of the recession (again)
CA and US Unemployment Rate
Ann. Growth in CA NFP Employment
YoY NF Payroll Emp. Growth,
San Diego vs CA
Real Estate Job Impact in CA Metros through Oct. 2008