Thursday, Jun 11, 2015

Secular stagnation has become a buzz word for little to no growth

CNN: Alan Greenspan: US real estate is stagnating

The reason this is so alarming to Greenspan is that prior to the Great Recession, America experienced 10 recessions and recoveries since World War II. In each of those 10 recoveries, construction -- both residential and non-residential -- was a big driver of the rebound.

Posted by mark @ 11:20 AM (6164 views)
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1. icarus said...

"Greenspan says that before the recession, about 8% of America's economy was from construction of houses and buildings that were expected to last for 20-plus years. Now that sector makes up only 4% of U.S. GDP "

He makes the years before 2007-8 his reference point? But they were years of property price and construction bubbles. Ask the Irish et al.

Thursday, June 11, 2015 08:08PM Report Comment

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