| From IHT: The recession in the U.S. housing market is expected to be deeper, longer and scarier if lawmakers continue to be deadlocked in their effort to pass a $700 billion bailout of the financial industry. "If they don't do something, they're going to shut down real estate completely," said a real estate agent.
The situation is dicey enough to make anyone thinking of buying a home queasy.U.S. home prices have already fallen about 20 percent since their peak in early 2006 and are expected to sink another 10 percent over the next year, according to Mark Zandi, chief economist with Moody's Economy.com. New data for July out Tuesday from the Standard & Poor's/Case-Shiller home price index will likely show more price declines in cities coast to coast..... Full Article: Source
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