Vicious circle...

"You can almost draw it out in a diagram. With home prices going down, consumers cut back on spending. If consumers cut back on spending, the economy weakens further. If the economy weakens further, fewer people are able to afford mortgages so home foreclosures increase, and home prices go down"BERNARD BAUMOHL, a managing director at the Economic Outlook Group in Princeton, N.J. Duh, who could have seen this coming???

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