Threatening Factoid on Housing
Authers, John. 2006. “The Short View: On US Housing.” Financial Times (11 October).
Hugh Moore, of Guerite Advisors, points out that residential fixed investment as a percentage of gross domestic product reached above 6 per cent at the top of this housing bubble. That was its highest level since the early 1950s, when the US government was effectively subsidising housing purchases through the so-called GI Bill. Every time residential investment has topped 5.5 per cent of GDP since the war, a recession has followed.