Recession is upon us

NAHB official expects 'mild recession' to lift in second half of '08

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The chief economist for the nation’s largest home builder trade group said today that the country is clearly in a recession.

"It’s now clear that we have entered what we anticipate will be a mild recession, running through the first half of this year, and there are substantial downside risks to this economic scenario," said David Seiders, of the National Association of Home Builders, in a statement today.