Most expect even further mortgage tightening. We asked Kirk Nace for his thoughts on these views of the US Housing Market and he shared "We have been calling for a fundamental shift in the way Americans view the supposed American Dream. For decades this marketing ploy was incredibly effective in creating a booming industry, we are now faced with the reality that, similar to what we find with most marketing claims, the promise was far greater than the performance. Tens, and ultimately close to 100 million Americans will end up being directly burnt by our having bought into the nonsense. Eventually every tax paying American will become aware that housing is not a dream, it's a nightmare and that instead of being your biggest asset it is for most, their biggest liability."
Click on the title above or the link below to review the entire Reuters article.
http://www.reuters.com/article/2011/02/28/usa-housing-survey-idUSN2779382120110228?pageNumber=1
