The US housing market is pretty sad these days. Nobody’s buying, nobody’s selling, and inventory’s surging. But take heart. There are actually worse places in the world!

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11 Countries With Even Worse Housing Markets Than The US

The simple economics behind the situation in housing is beginning to become more apparent as the weeks go by. As we’ve noted for several years now the primary problem in the US housing market remains one of supply and demand.

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The Answer To A Housing Recovery: Lower Prices

Property website Rightmove yesterday brushed aside concerns over the housing market as it reported a 39 per cent leap in half-year profits and said trading was holding firm. (27/08/2010 19:32:03)

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Rightmove brushes aside market fears as profits increase

New York ( FT ) — Ben Bernanke, Federal Reserve chairman, said on Friday that weaker-than-expected consumer spending growth and a “depressed” housing market had slowed the pace of the US recovery and promised that the central bank was ready to take “unconventional” steps to stimulate the economy if needed.

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Fed stands by to boost U.S. growth

New York ( FT ) — Ben Bernanke, Federal Reserve chairman, said on Friday that weaker-than-expected consumer spending growth and a “depressed” housing market had slowed the pace of the US recovery and promised that the central bank was ready to take “unconventional” steps to stimulate the economy if needed.

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Fed stands by to boost U.S. growth

Current trends suggest that the housing market is collapsing. Again. Will it take the economy further down with it?

See the article here:
Housing market continues to decline