Housing slump is forecast...

Housing slump is forecast, from the Arizona Republic, reports that a study prepared by UCLA says that there will be a sustained decline in the U.S. housing market next year, costing the nation as many as 800,000 jobs. The slowdown is likely to last several years, with as many as 500,000 construction jobs and 300,000 financial-sector jobs lost, the quarterly "Anderson Forecast" predicted. The "Anderson Forecast" said eight of the past 10 economic recessions were started by housing-market slowdowns. Michael Bazdarich, who wrote the forecast said "the remaining questions are how hard the fall will be and when will it begin." A significant slowdown in metro Phoenix's home-building industry would be a blow to the area's economy because no other major U.S. city relies as much on the housing industry for its economic well being.
Economists expect 'sustained decline'

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