White House says it needs to deal with housing problems as deadline to raise debt ceiling looms | Mail Online
The struggling U.S. housing sector will not stop the country's economic recovery but the Obama administration needs to deal with problems in the market, a top White House economic adviser said today.
Housing is the one part of the economy that has been persistently underperforming due to the glut of houses for sale and weak demand.
Appearing on CNN's State of the Union, White House economist Austan Goolsbee said: 'We still need to deal with these housing issues and it's going to take us substantial time as a nation to work our way out of what was a 10-year-plus bubble, but I do not believe that will prevent us from recovering.'
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