David Seiders, chief economist, National Association of Home Builders, Washington, D.C., told the Senate Finance Committee last week that a second round of fiscal stimulus directed at the housing sector would boost the homebuilding industry and shore up the U.S. economy. He said the U.S. housing market is now in the most pronounced downswing since the Great Depression and, “The bottom is not yet in sight.”
“New home sales and single-family housing starts already are down by more than
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