Editor's note: While 2009 thankfully did not offer an economic repeat of the panic that struck Wall Street in 2008, it was nonetheless another painful year for the real estate industry and nation as a whole. In this report, Inman News reflects on the major news events of the year. By MATT CARTER and ANDREA V. BRAMBILA 1. The economy: an unemployment, construction disconnect In past recessions, unemployed workers and the housing sector were like two climbers roped together on the side of a mountain face in a fierce gale. When investment in new-home construction picked up, that would create jobs and boost spending, spurring more homebuying and construction and helping lift the economy out of the doldrums. This time around, with homes continuing to enter the foreclosure process at an...
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