When the housing market is at its peak, it can contribute as much as 6 percent to the economy.
During a recession, that figure drops by half, according to the New York Times.
Which is one reason that economists track such indexes as the Dow Jones U.S. Home Construction Index. That figure had dropped by some 25 percent last fall, leading the Times and other publications to project that the country is experiencing a housing slump.
Lately, though, that figure has bounced back, indicating that contractors…
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