Housing recovery may not support growth: Morici

Mar 22, 2013 | 12:34 PM | Daniel Fitzgerald

Tags  MSCI, Metals Service Center Institute, Specialty Metals Division Conference, housing sector, recovery, Peter Morici, Daniel Fitzgerald

CARLSBAD, Calif. — The recovery of the residential construction sector is creating a “housing glut” which may not actually support wider economic growth, economist Peter Morici told delegates at the Metals Service Center Institute’s Specialty Metals Division Conference March 21.
While the housing sector is recovering in the United States, much of the spending is taking place in the existing home market, which is “not the kind we need to regenerate growth,” Morici said. ....

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