Industry News

Good son of U.S. economy

Opinion: Real estate carries the family

Wow, sometimes it feels like the weight of the global economy is on the shoulders of the real estate industry. Today, the U.S. Commerce Department reported the number of residential buildings under way dropped to a seasonally adjusted annual rate of 1.9 million units, representing a 7.9 percent skid from December's 2.07 million units. Instantly, Wall Street got the heebie-jeebies. The stock market slipped, and experts began worrying about the real estate market's health. Enough already. It is time for other sectors of the economy to get their act together. We feel like the promising son, who goes to college, gets a good job, starts a family and must support his drunken brother, laid-off dad and depressed mother. Hey manufacturing, get off your butt and stop complaining about China. You tech kids, get sober and get a job. You had too many all-night parties in the late-1990s and now you cannot get out of bed. You're still in your pajamas watching re-runs of movies about option bonan...