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Did rising home prices create our last jobless recovery?

 
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HousingStorm
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PostPosted: Mon Oct 05, 2009 7:01 pm GMT    Post subject: Did rising home prices create our last jobless recovery? Reply with quote

http://housingstorm.com/2009/10/did-rising-home-prices-create-our-last-jobless-recovery/

...As to how we had a jobless recovery in after the 2001 recession, the obvious answer is bad news for those expecting much of a recovery at all this time.

Mortgage Equity Withdrawal (MEW) took off in 2001, giving consumers lots more disposable cash. Perhaps the extra spending of MEW compensated for the jack of jobs created .

Then, of course, MEW created it’s own micro-economy. Home repairs, home remodeling, home construction…these industries boomed and hired more workers for the next 5 years.
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