Bangkok--13 Oct--Standard & Poor's
Standard & Poor's Ratings Services has published an article that says the U.S. housing market appears to have topped out in the summer of 2006 because incoming data on sales and starts show that fewer homes are being sold and prices are leveling out.
"Earlier this year, we were surprised because housing remained stronger than we had expected," explained Standard & Poor's Chief Economist David Wyss. "Then the drop during the summer was very sudden. So far, though, it appears that the slowdown will be moderate, as we expected, and as Federal Reserve Chairman Ben Bernanke has stated." The risk of a sharp plunge remains, however, especially if mortgage rates move too high. For more, see the article, titled, "Will Housing's Fall Make The Economy Tumble?"
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