Matt from Queens

How Much Further Will Housing Fall?

billddrummer, we aren't saying housing is at a bottom now, and we aren't saying that the affordability index will necessarily improve in the short term, just that when it does housing will find a bottom area. Of course real estate is local, but we're using some national numbers to talk about housing nationally. I'm sure that a look at specific regions will be useful, but the idea of affordability will still apply.

For those of you who brought employment, there's no question ti plays a factor, but the facts are that employment has declined far less than during previous slow downs. That's not to say that job losses cannot accelerate, just that to this point the decline has been less than previously seen.

All we are saying is that when 28% of the median monthly household income matches the monthly cost to pay for a home priced on the median, housing will hit a bottom area because demand will increase.

Again. we aren't predicting this will happen right now and if the economy slows as expected in the second half of the year, housing will also take a turn for the worse.