The most recent figures on gross domestic product (GDP) — the broadest measure of economic activity — revealed that residential investment (a.k.a.housing) grew at an 8.8% annualized pace between the first and secondquarters of 2014. As a result, housing contributed 0.3 percentage points to the overall 4.6% gain in GDP in Q2. It was the first time since Q3 2013 that housing added to GDP growth; but it marked the 12th quarter of the last 15, dating back to late 2010, that housing has made a positive contribution to GDP. Prior to that, between late 2005 and late 2010, housing had been a drag on the overall economy in 17 of the 20 quarters (or five years), as the economy endured the housing-induced Great Recession and its aftermath…

Housing Hiatus?