Unlike previous housing start cycles, the correction after the housing "bubble" from 2003 to 2006 was NOT caused by tight monetary policy or high interest rates. All of the previous housing cycles were driven by monetary policy actions.
The American Institute of Architects (AIA) issued the most comprehensive look yet at the built environment’s role in economic recovery, highlighting six specific policy steps that will generate jobs and help grow the American economy.
Total construction spending fell 1.3 percent in July, which was well below expectations. Previous months’ data were revised upward, however. Residential spending fell 1.6 percent and nonresidential fell 1.1 percent.