The Connection Between Housing and the US Recession

Housing is one of the things that is measured with a pretty high degree of accuracy. You could see that housing was proceeding these downturns by about three quarterspretty consistently. And it's that timing that has led me to say rhetorically, we call it a business cycle but it's really a consumer cycle. Businesses the passengers are not the driver. That's such a good way to put it an unwanted period of idleness.