Despite the housing boom in certain markets (such as New York, Los Angeles, and San Francisco), the real estate market is nowhere near the economic driver it once was.
Apr 25, 2014 New York Times - The Upshot
During the Great Recession, household formation in the U.S. was well below historic levels, dimming the demand for new homes. Although many sectors of the economy have experienced sustained recoveries, household growth still lags.
Jul 24, 2013 Trulia