Housing Slump Hits Local Economy ; $174m Lost in Wages, Profits
Gazette, The; Colorado Springs, Colo. › August 13, 2007
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Summary
The local economy is feeling the effects of a home-building slowdown: about 4,100 job losses and $174 million in reduced employee wages and business profits over the past 12 months, according to an estimate by a local economist.
The housing slowdown, however, hasn't sent the economy into a tailspin, said Fred Crowley of the University of Colorado at Colorado Springs.See the full content of this document
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Housing Slump Hits Local Economy ; $174m Lost in Wages, Profits
"It's not enough to drag down the economy," Crowley said, "but it will keep it growing rather slowly."
The pace of home construction slowed again last month. Single-...See the full content of this document
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