Housing Market Impacts Economy
The housing slump of 2006 may continue into 2007, according to MSNBC.com. Although housing usually impacts the economic well-being of the U.S., the 2006 economy didn't suffer much because of strong jobs and the (finally!) drop in gas prices.The correction in the housing market is expected to continue. Translation: home prices were rocketing out of control in some markets, so the prices are now falling back to Earth and becoming more realistic. This does not mean that home sales will stop... it means that buyers will not be as willing to pay outrageous prices for real estate.
posted by Kathy T. @ 10:24 AM
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