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Real Estate Woes: The End of the Great American Housing Boom
The unprecedented run-up in housing prices is all but over according to Dr Christian Weller, Senior Economist at the Center for American Progress. Housing has been the biggest driver of the US economy over the last several years. Without the wealth effect from real estate gains, Weller suggests Americans will find it harder to buy that new car, pay for college or go crazy at the mall,and what's more, many people may be in dangerous loans. That spells bad news for the economy writ large...
Read Christian's report, "The End of the Great American Housing Boom" here: http://www.americanprogress.org/issues/2006/12/end_of_the_boom.html
WWW.AMERICANPROGRESS.ORG
