National economist says the housing market could get worse

(WDAY TV) - A group that's been hit the hardest by the economic slowdown is the housing market. They got a chance to hear from a national economist in Fargo today. Doctor Anirban Basu told home builders the only reason there's been growth national in housing is because of the Presidents’ stimulus package.

He says even though we've deflected most of the housing downturn, it could get worse before it gets better.

There always hope, it's America. It's the land of opportunity, but we've dug a massive hole for ourselves, fiscally, financially and otherwise.”

Dr. Basu says we've fended off much of the national hit because of conservative spending and borrowing.