Saturday, November 24, 2007

Vacation Home Sales Drop Hits Vermont Economy

Vermont's statewide economy has been hurt by the drop in housing sales. According to Jeff Carr, president of Economic & Policy Resources Inc. in Williston, vacation homes in particular is the leading edge of the downturn. Burlington Free Press quotes him saying the gross state product, the total value of Vermont's goods and services for 2007, will show an inflation-adjusted decline of 0.3 percent from last year. Housing construction tumbled 53 percent through August.

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