It is good when there are enough jobs for people to have according to their qualifications. But there still has to be good and reliable housing that can be purchased for the amount of money that they are earning. These residences need to be affordable and people have to be able to own if they want to.
Yes, full economic recovery in the U.S. depends on the housing market, because the economy cannot be fully recovered unless the housing market recovers too. Housing is important, because people have to be able to afford a place to live. If that recovers, we will be in good shape for the economy.
No, I do not think that full economic recover in the U.S. will depend on the housing market. Full economic recovery will have many player, to include the housing market, but also other markets as well. It will also have a lot to do with the employment rate and improving the consumers spending capabilities.
For the U.S. to fully recover from the economic crisis of this time, the housing market is not the only thing that needs to be fixed and recovered from. There needs to be more jobs created and the income in equality does have to be looked at instead of sweeping it under the rug.