Barry Habib and John Butler: Are we buying housing, or burning the furniture?
Welcome to Capital Account. The BLS jobs number report for November came in better than expected, with 146,000 jobs added and unemployment dropping to 7.7 percent, the lowest since 2008. However, the decrease in the unemployment rate was due to a drop in labor force participation. And how does the steady decrease in average hourly earnings factor in? We talk to Vice President of Residential Finance Corporation Barry Habib about his reaction to the jobs numbers. Barry gives us his outlook for housing, and explains why he thinks it is a bright spot for the economy.