27 Aaronson and others (2014). Also see Council of Economic Advisers (2016) and the studies cited therein. 28 Blau and Kahn (2016).
The lower US growth reflects, among other things, that the housing market is adjusting after some years of strong price increases, but the adjustment seems to be moderate and gradual. There is no sign either that the problems faced by companies specialising in mortgage loans to less creditworthy households will spread to other areas of the financial markets.