Economists at NAHB Conference Predict Housing Recovery Won’t Happen Until 2009

Washington, D.C.–Economists speaking at a National Association of Home Builders-sponsored conference in Washington, D.C. on Thursday said that the residential building and housing markets will be troubled throughout the end of 2008.The housing decline helped force the U.S. economy into a recession that will last through June, economists said. They also predicted that the credit crisis would continue to make financing hard and rising oil prices would keep reducing consumer spending, according to speakers said they don’t expect a housing recovery until 2009.