Off the Wall<br>In Predicting the Economy, There's No Place Like Home

Greg adds a breathe of fresh air with his take on a faltering economy.

The homebuilding segment of construction not only plays a pivotal role in the country's total production of goods and services, it's also one of the most telling barometers of our nation's long-term economic wellbeing.

Pronounced slumps in home construction are one of the most certain signs of recession, just as extended boom times reflect a healthy economy. Similarly, sales of new and existing homes, as well as the outlook of builders, are useful statistics that help characterize the direction our economy is turning, for better or for worse. In the wake of the terrorist attacks of Sept. 11, and the uneasiness that has imprinted itself on an already questionable economic outlook, a detailed examination of housing trends can help gauge our nation's economic wellbeing for the coming year.