Housing Is Set to Be a Drag on US Economy

I’m Matthew Boesler, an editor covering the US economy in New York. Today, we’re looking at the housing market. Send us feedback and tips to ecodaily@bloomberg.net or get in touch on X via @economics. And if you aren’t yet signed up to receive this newsletter, you can do so here.

Coming into 2024, the US housing market appeared to have stabilized, helping to support overall economic growth after two straight years of declines in residential investment between mid-2021 and mid-2023.