Why the government shutdown could haunt the housing market well past Halloween

haunted marketBy Kristena Hansen | Phoenix Business Journal

The federal government has now been reopened for one week, but the 16-day shutdown is likely to have a lingering impact on the housing market through the end of the year, according to Freddie Mac’s U.S. Economic and Housing Market Outlook for October released Tuesday.

With the U.S. debt ceiling still being debated, Moody’s Analytics recently estimated the government shutdown cost the nation’s economy $20 billion and will reduce fourth-quarter economic growth from 2.5 to 2 percent.

As a result, the housing recovery should be much slower in the final months of 2013, according to Frank Nothaft, Freddie Mac’s chief economist and vice president.


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