Obama: housing oversupply still hobbling US economy

COLUMBUS, Ohio, Aug 18 (BestGrowthStock) – U.S. President Barack
Obama said on Wednesday that an over-supply of homes built
during the property bubble was slowing the economic recovery.

“The housing market is still a big drag on the economy as a
whole,” Obama said. “It is going to take some time for us to
absorb this inventory, that was really too high.”

Obama was speaking on the final day of a three day
campaign-style swing across the country to stump for fellow
Democrats ahead of the Nov. 2 midterm congressional elections
and promote his economic policies.

(Reporting by Alister Bull; Editing by Jackie Frank)

Obama: housing oversupply still hobbling US economy