Like austerity normal is it’s the reality check. And reality checks hurt sometimes like a bee sting and sometimes like a sledge hammer to the side of the face.
The broad Case-Shiller housing index fell 4.5%.
Expert Shiller sees austerity being a big drag on housing movement and prices.
Propping up prices and keeping bad debts will continue to strain housing like an old man stretching to reach that can of beans on the top shelf.
There’s no reason to keep this bad stuff around. We must take our medicine and let things recover naturally because this is the only thing proven to get results and have lasting recovery of health in any market including real estate.
http://www.creditwritedowns.com/2011/07/shiller-austerity-negative-for-housing.html