Housing Market to Economy: “I’ll Stop When You Stop”

Heather Boushey explains in the American Prospect that the housing market can't rebound without a full jobs recovery.

Advancing Racial Equity and Justice, Building an Economy for All, Strengthening Health, Affordable Housing, Retirement, Small Business +3 More

As it turns out, reality isn’t nearly as much fun as bubble-induced mania.

New data on home prices show that in the 20 largest cities in the United States, prices plunged in March to their lowest point since the housing bubble burst in 2007. According to the Standard & Poor’s Case-Shiller Index, home prices are worth a full third less than they did at their peak in April 2006, eliminating nearly all the real gains in home prices since early 2000.

The above excerpt was originally published in The American Prospect. Click here to view the full article.

The positions of American Progress, and our policy experts, are independent, and the findings and conclusions presented are those of American Progress alone. A full list of supporters is available here. American Progress would like to acknowledge the many generous supporters who make our work possible.