Aug. 22 (Bloomberg) -- As the U.S. economy shows signs of sputtering, instability on Wall Street is sapping the confidence of would-be property buyers, said Karl Case, co-founder of the S&P/Case-Shiller home-price index.
That means housing, which aided every recovery except one before the most recent recession, may deepen its five-year drag on growth. Gigi Stone reports on Bloomberg Television's "InBusiness With Margaret Brennan."
The 112th Congress did not renew the tax credit for first time home buyers that ended on Sept. 30, 2010.
The tax credit did stimulate the housing marker, but it is unlikely the GOP congress will develop a similar program to counter the drag in housing sales.
Source: Bloomberg
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