Sag Harbor

The unexpected run-up in housing prices isn’t even close to being over according to Dr Christian Weller, Senior Economist at the Center for American Progress. The biggest driver of the US economy over the last several years has been housing. Without the wealth effect from real estate gains, Weller says Americans will find it harder to buy that new car, pay for college or go crazy at the mall. Even worse; many people may be in dangerous loans. That means bad news for the economy at large