real estate and the economy

real estate generates nearly a third of united states gross domestic product(GDP),Creates Jobs for nearly 9 million American, and is the source for 70 percent of local government revenues. the total contribution of the housing sector alone approaches 20 percent of GDP. because of the significant influence of real estate on the nation is economy,investors on wall street closely monitor real estate construction, construction permit activity, and real estate sales figures. Housing starts and sales are widely viewed as lending economic indicators.