Jobs Are Up, But Housing Remains Down

 

Home improvement spending ?EUR??,,????'?????< Courtesy of Down Home Books

The housing sector remained depressed even as the economy began to show improvement.

On its face, the employment report for March looked positive — with the unemployment rate inching down and job growth inching up. However, overall labor market conditions have shown relatively little improvement since the official end of the recession.  

With the housing market deeply depressed, private residential construction spending continued to decline in February. Single-family and multifamily construction spending dropped, with housing starts falling substantially in February — hovering only marginally above their record lows.

With deficit reduction and tax reform dominating the political debate and policy agenda, now is also an appropriate time to review tax issues related to housing construction and home builders.

– Courtesy of NAHB