redmond, your logic process interests me, house prices went up and when interest rates went up people had no money.
So you beleive house prices need to come down so people have money to spend. At 9% interest rates, you were right. But with 5% interest and posible less in th enext few months, people have all this money. so why does the price of the house have to come down given that is the level of debt that determines the cash avaiable, the levels havent change in fact are falling as people batten down. So the price of the house in your logic is irrelevant, it is the level of interest rates that effects the economic spending
