How bad is the US housing market?

How bad is the US housing market?
May 30, 2008 04:20
guest1468	As Financial Times reports, the widely followed S&P/Case-Shiller index shows that the house prices in US are going down rapidly. They fell about 14 percent year-on-year in the first quarter, more than 16 percent down compared with their peak in 2006. I want to know if how US people feel about the house prices. Are they falling rapidly as the index indicated? If the house prices drop rapidly, the ordinary people will benefit. Do you gain some interests from the falling house prices?

May 30, 2008 04:20

guest1468

As Financial Times reports, the widely followed S&P/Case-Shiller index shows that the house prices in US are going down rapidly. They fell about 14 percent year-on-year in the first quarter, more than 16 percent down compared with their peak in 2006. I want to know if how US people feel about the house prices. Are they falling rapidly as the index indicated? If the house prices drop rapidly, the ordinary people will benefit. Do you gain some interests from the falling house prices?

May 30, 2008 12:13	#1
JARCHACK Points: Join Date: Apr 27, 2008 Status: Offline	while falling prices might benefit someone buying a house, they also drag the whole economy down with them. i.e. people with houses are losing equity, they shop less, businesses lay people off... get the general idea?

May 30, 2008 23:39	#2
WCTMAN Points: Join Date: Dec 17, 2005 Status: Offline	Home ownership in the US is not confined to the wealthy. In fact, the vast majority of homes are owned by "ordinary" people. So, falling prices have a serious impact upon personal equity, liquidity, retirement.

Jun 1, 2008 22:24	#3
COOLSPRINGS Points: Join Date: May 19, 2008 Status: Offline	if you own home as principal residence, reduced home equity or increased debt is unrealized number. the potential gain is from reduced mortage int. or property tax.

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