The Housing Industry Is Vital to Our Economy
“Fact: For every additional 1,000 home sales, about 500 jobs are added to the economy. Those are real jobs that give our families, friends and neighbors a chance to work.
Fact: Every home purchase pumps $60,000 into the economy.
Fact: Housing accounts for more than 15 percent of the national gross domestic product.
Fact: Home owners pay 80 to 90 percent of ALL federal income taxes.
We need to change the dialog. Critics say housing is a drain on federal resources. We know better. Housing is the engine that drives our national economy. Eight of the last ten recessions have ended as a result of robust housing markets. The other two ended as a result of war spending. The choice is easy. America needs a healthy housing market to thrive.”
Information courtesy of Ron Phipps, 2011 NAR President, Realtor.org