I'm starting to think that we might see trouble in the housing sector.
U.S. foreclosure filings increased 71 percent in the third quarter from a year earlier to the highest on record as home prices fell and stricter mortgage standards made it harder for homeowners to sell or refinance...
"I wouldn't be surprised to see foreclosures increase as the economy slows down,'' Rick Sharga, executive vice president for marketing at RealtyTrac, said in an interview. "The people living paycheck to paycheck are at risk if they lose their jobs. It will cause more people to lose their homes.''
The worst U.S. housing slump since the 1930s is being compounded by a recession that began in the third quarter and may last a year or more...Home prices in 20 U.S. metropolitan areas fell in July at the fastest pace on record, and sales of previously owned homes in August were 32 percent below the peak reached in September 2005.