The old saying goes that Housing can drag the economy into a recession - and housing can pull the economy back out of a recession. Now we finally have empirical data to back that it up, at least here in Washington State. A recent study conducted by the Sacramento Regional Research Institute concluded that, "Housing is one of the most visible and prominent industries in Washington."

According to the study, "The larger picture shows that , in 2006, housing was a nearly $55 billion industry, supporting more than 194,000 jobs and contributing about 11 percent of Washington's total output." This puts housing in the number two spot behind the dominant Wholesale and Retail Trade industry and ahead of other major industries such as, Information and Aerospace. Amazing but true. Yes of course 2006 was a banner year for the real estate industry however the importance of this industry can no longer be
understated.