JOB AMERICA

AP

Is a Housing Recovery Possible Without Job Growth?

Housing markets are on a tear south of the border. Against expectations, US housing starts surged to 894,000 units in October, up 42 per cent over last year's number. Some believe this is the real thing, the leading edge of a true and sustainable recovery. Others aren't persuaded, convinced that this is just another flash in the pan. Their reasoning? No jobs, no housing recovery. Are they right?