Tag Archives: Department of Commerce

Citing dips in home sales, purchases, and low job growth, some economists say housing is already in a double-dip recession, with reprieve still off for another two years - this despite a last-minute debt deal.

Job growth slammed into a wall last month, with employment figures dropping and the number of jobless rising a grim indication that the housing markets may lose steam. According to Census data, the economy added only 18,000 new jobs in June, falling short of expectations that data would trump the 25,000 jobs brought on in May. Numbers for job loss in April and May also hit 9.2 percent and 9.1 percent, with economists saying that the market still needs a net gain of about 150,000 jobs.