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The strong housing sector supported the economy in two ways.
All this has created a strong housing market in Ridgefield.
A strong housing market could affect spending on items like durable goods.
The deeper fundamentals continue to suggest strong housing prices for the future.
Strong housing demand and consumer spending partly offset the lack of business investment.
Second, the strong housing market reflects the confidence of buyers that their jobs are safe.
"Productivity is high; business investment is strong; housing construction is strong.
Fannie Mae is benefiting from the strong housing market, Mr. Marsico said.
The strong housing market has also contributed to demand, he said.
A report of surprisingly strong housing starts yesterday added to such concern.
"The strong housing market is also supportive to retail sales," he added.
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