The worst of the cuts in production appears to be at least temporarily over, say Bank One officials, and housing could pick up as vehicle production picks up again mid-year.
The Midwest can expect a 3.9% drop in housing sales in 2001, slightly more than the nationwide drop, bank officials say. Housing starts are also expected to drop by 3.8% for the Midwest, they say.
Chicago will be at the other end of the spectrum, Bank One says. Housing sales will not drop too far, but the homes are getting more expensive than in New York and Silicon Valley, according to bank officials.
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