Zandi: Recession Will End This Year

Moody's economist also says housing will not be 'an early source of growth' in this recovery.

Source: BUILDER OnlinePublication date: July 13, 2009
By Alison Rice

First, the good news. Mark Zandi, chief economist for Moody's Economy.com, believes the Great Recession will end this year.

If that's true, that will surely be welcomed by just about everyone. During this difficult economic period, more than 8 million jobs have been lost. Housing starts have dropped to an annualized level of 500,000 units, down from more than 2 million in 2005. Banks large and small have failed. Read more.