### Comment:
Housing was way too hot though, isn't it dropping a little a good thing as it's getting back to a sustainable rate of growth?

### REPLY:
Absolutely, but a lot of people are employed in building and renovating houses, so the short term impact is negative whenever there is a downshift.  Nevermind that there are people trying to flip houses that will now be bag holding a house instead of using their income to buy things.  Nothing like 2007/8 sure, but it has negative impact to the economy, even if it's a short term thing, whenever it slows.

### END.