After riding high due to a booming housing market over the past several years, the U.S. economy is feeling the pain of a housing slowdown.
The U.S. economy slowed to just a 2.5% growth rate, with the sluggish housing market taking a toll on consumer spending.
"As rising housing prices during the boom added to Americans’ sense of wealth and well-being â€" encouraging them to spend more on a variety of goods and services â€" the reverse could dampen sentiment and lead consumers to pull back on their purchases."
FULL STORY: Housing Slows, Taking Big Toll on the Economy

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This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
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Harvard GSD Executive Education
UCLA Lewis Center for Regional Policy Studies
Mpact (formerly Rail~Volution)
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Great Falls Development Authority, Inc.
HUDs Office of Policy Development and Research