Related to the Recession still continuing in the residential construction sector

So, yesterday afternoon, I watched a video that was an interview of Warren Buffet, sitting with, being peppered with questions by, a smart young reporter from either Bloomberg or the Washington Post. The interview session was nearly 30 minutes long and was quite interesting.

During the interview, Buffet essentially said (what I’ve been saying for maybe over two years by now) that for our economy – and our job market – to really experience recovery (and, I'd put it this way ... to really experience a very meaningful recovery), there has to be a recovery in the residential real estate development (residential construction) sector of the economy. That sector of the economy employed a very significant number of workers, not to mention the significant number of workers who were employed in industries related to the residential construction sector (think home improvements, flooring, furniture, interior design, landscaping, etc., etc. - and reprographics too!)

“They say” we excited “recession” two years ago, but, given the fact that the official jobless rate is on the rise again and the fact(?) that the real unemployment rate is likely over 15%, did we really, truly exit the recession? Or, was that “exit” just a technicality?

The purpose of today’s post was to let you know about the Buffet video interview I watched and to share with you two very interesting articles that relate directly to the economy and to the situation in the residential construction sector.

The first article I’m suggesting you read is this one…..

“How the Bubble Destroyed the Middle Class” “Commentary: Sluggish growth is no mystery: No one has any money”, by Rex Nutting, MarketWatch, published July 8, 2011

Here’s a link to access that article (I copied it into my Google Docs library):

http://tinyurl.com/3cj6vuc

And, the second article I’m suggesting you read is this one…..

“How Underwater are American Households?”, by “a political junkie”, published June 9, 2011

Here’s a link to access that article (I copied it into my Google Docs library):

http://tinyurl.com/6xzf8yy