David Berson, Senior Vice President, Chief Economist and Strategist, The PMI Group, Inc.
Dowell Myers, Professor and Director, Population Dynamics Research Group, University of Southern California
Moderator: Kathryn Kobe, Director, Price Wage & Productivity Analysis, Economic Consulting Services LLC
The housing sector is an important end-use market for manufacturing and the decline of housing activity has directly affected a number of industries, especially those involved in supplying construction materials but also those supplying consumer products (appliances, furniture, carpeting, etc.) typically associated with a home purchase. Falling home prices characterize this business cycle and are now affecting manufacturing industries indirectly as consumers retrench, moderating the demand for durable and non-durable goods and then feeding back to orders and production.