‘More Jobs, Income Growth Needed’ to Give Recovery Jolt

Jobs and income growth are key “to turn in another gold-medal performance for the housing recovery” in 2014, says Frank Nothaft, Freddie Mac’s chief economist.

An improving economy is helping to bolster the housing market but lackluster labor reports in January is resulting in a slow start for the residential sector, according to Freddie Mac’s latest Economic and Housing Market Outlook.

Freddie predicts unemployment to stay at 6.6 percent in the second quarter and fall to 6.4 percent by the end of this year.

More details at sources: Freddie Mac and “The Hidden Catch in the Housing Recovery,” HousingWire (Feb. 18, 2014)