EconExtra: Is the Housing Market in a Recession? - Blog
Wharton professor Fernando Ferreira explained that he doesn’t think the housing market is in a recession in a recent Knowledge@Wharton article. So what story can we tell from the data we are seeing? EconExtra is a series of posts that go beyond the textbook, relating current events and recent developments in economics to content standards, and providing resource suggestions to help you incorporate the current events into your lessons The Headlines Mortgage rates just surpassed 6%--double the rate from a year ago, and demand for mortgages has dropped 29% from last year (NYT). New home sales were down 30% year-over-year in July (CNN).