MADISON — The U.S. economy is approaching the brink of recession and the stumbling housing market could drag it over the edge, UW-Madison emeritus economics professor Don Nichols said Friday during an economic outlook forum at the Fluno Center.
But Nichols said he could not predict what will happen with housing during the rest of 2007.And because Wisconsin’s economy is based more on the export of manufactured goods, the Badger State could have a “relatively good” year and even beat the national growth average if “the housing bust becomes huge,” he said.