Manufacturing fell sharply in April, home prices are falling and new-home sales plunged in March.
You think about how home prices are falling nationwide at a rate of 10 percent a year.
Now that home prices are falling and credit markets are tightening, the 2 million borrowers whose mortgage payments are expected to soon rise are in trouble.
Home prices are falling in Michigan and other auto-producing states.
That's fine if home prices are rising as well, but when home prices are falling like they are now, many of these borrowers are finding they owe more than their homes are worth, which gives them an incentive to walk away when times get tough.
Falling home prices and a weak housing market are one more element of deflation.
With home prices now flat or falling, though, more borrowers are defaulting on their mortgages.
That's the case in Southern California, where military families are beginning to take advantage of falling home prices.
The unemployment rate in the Valley is falling, home prices have stabilized, and Apple products are so hot that they can't keep their store shelves stocked.
Most of those who try to sell are unable to find willing buyers because credit is tight and home prices keep falling.
He says people are being squeezed in several ways, given the state of the economy and falling home prices.
Home builders are continuing to see low levels in orders, due to too-high home inventories and falling prices for those already on the market.
"Falling home prices, rising food and energy costs, which will inevitably lead to slower consumer spending, are reducing expectations for corporate profitability, pushing up defaults and widening out spreads, " Hintz wrote in a research note Tuesday.
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