Zillow COO Spencer Rascoff Talks How Jobs Affect Housing on Forbes.com
By: Zillow Team, | November 6, 2009
It’s jobs and wages, not growth in the GDP that will really spur the housing recovery, Zillow’s Spencer Rascoff told Forbes. Spencer regularly participates in panel discussions on Forbes.com. Other participants include Donald Trump, Jr., Michael Feder of Radar Logic and Pat Lashinsky of ZipRealty.
This time, the discussion centered around whether a weak housing market could tank the economy. Spencer responded by saying, “I tend not to focus on economic growth rates when thinking about the housing market, because economic growth typically includes government spending, and governments don’t buy homes.”
See the full discussion here.
- Stumble it!
- Categories: Real Estate Analytics
Comments
3 Comments so far
Enjoy this post? Subscribe to the Zillow Blog feed or get updates via e-mail
Free Loan Modification Kit on November 7, 2009 6:03 pm
Its amazing how obvious this is to everyone, yet so rarely spoke about. Of course if more unemployed people get jobs, we would see a decline in foreclosure filings. I wish the government would take more notice to this subject. Instead of devising all these b.s loan mod programs that only benefit the few, they should take a proactive approach to stabilizing unemployment rates.
Roger on November 8, 2009 9:33 am
thanks for posting this.
Mayor Mose on November 9, 2009 1:48 pm
Haha… Government does spend money on housing. Look at the billions of dollars they have given Fannie. http://ow.ly/zTry We basically subsidized housing in the US and allowed banks to get rich doing it.