House prices have been falling for several months, but overall prices remain at least 10% above their long-term average.
Until the bottom is hit (and perhaps overshot), there’s little prospect for anything other than years of anemic US economic performance.
There’s very little private sector demand, and our leaders in DC are wasting all their time on deficit reduction at a time when we should be borrowing and spending much, much more to tackle unemployment.
Gorilla says: “Our country’s house is still on the skids!”
