Yes, housing prices still falling. Here’s a column saying that prices need to keep falling.
Well, people still owe a lot on houses, and spending this money on mortgage payments instead of at casinos and strip clubs is holding this economy back!
Okay, that was joking a little. But I heard a radio show not too long ago where a guy just quit making house payments. He had been living in his house for over a year without making any house payments at all, and the bank didn’t (or couldn’t) foreclose because of whatever laws were in place for the real estate crash. He said, paraphrasing, “It’s amazing how much money I have, now that I don’t have to make that house payment.”
Yeah, really.
Anyway…