Sun Feb 12 2012
THE (TOLEDO) BLADE
The national housing holding pattern, reflected in dismal July home sales, is throwing a wrench into an already weak economic recovery. The sputtering housing market is a reaction to the faltering recovery, and vice versa.
As long as unemployment remains high -- stoking uncertainty and fear in the economy -- home sales remain stuck on "no deal." Everywhere, it seems, buyers and sellers are in a standoff over prices.
Something's got to give. Another one-time government incentive to spark sales isn't the answer. Meanwhile, the immobilized housing market continues to undermine a wider economic recovery that could again spur home sales at prices agreeable to both buyers and sellers.
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