• Print
  • Email
  • Share

Economic Perspectives, 4, No. May/June, 1980
Cyclical Downturn in Housing
Housing construction is in a sharp decline. In the first quarter of this year, starts were down almost a third from the rate of mid-1979, adjusted for usual seasonal patterns. The decline continued in the second quarter. With very high mortgage rates as a major factor pushing the cost of ownership up much faster than income, many potential buyers have been forced to postpone or cancel intended purchases.


Federal Reserve Bank of Chicago, 230 South LaSalle Street, Chicago, Illinois 60604-1413, USA. Tel. (312) 322-5322

Copyright © 2016. All rights reserved.

Please review our Privacy Policy | Legal Notices