The $350 billion housing gap
The Bipartisan Policy Center published a graphic this week showing how far housing is falling.
BPC is a Washington think tank founded by four former senators, including Bob Dole. Analysts there organized data from the Bureau of Economic Analysis and Robert Charles Lesser & Co., a real estate services firm.
According to the results, the housing industry contribution to U.S. GDP growth sheared off by more than half to 2.7% in the second quarter of 2011 since the peak in 2005.
Taking a 5% baseline average, the U.S. economy holds a $350 billion hole or roughly 2.3% of GDP since the downturn in 2007.
You can find the full graphic here, which has other stats such as the drop in private housing investment, and jobs.
The hard data is here.