| Debt deal or not, confidence in America has taken a hit, and it could affect the housing market. Nevertheless, America's chronic debt problem could still have far-reaching consequences, damaging not only the United States' reputation as a fiscally responsible nation, but further hobbling an already haggard housing market.
Experts say a downgrade would likely trigger an increase in interest rates and put further downward pressure on home prices. "We're on track for an inevitable downgrade at some point," says Greg McBride, senior financial analyst at Bankrate.com..............................................Full Article: Source |