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To: richardred who wrote (22)4/19/2006 3:13:37 PM
From: Peter Dierks  Read Replies (2) | Respond to of 340
 
Sales of existing homes have been cooling off as well. It is possible that the great housing boom has taken a pause. Common wisdom is that many people have been using the rise in their home home equity to supplement their lifestyles. To the extent this is true a reduction in the rate of increase in home values is bad for the economy. An actual decline in home values could be a disastrous development.

Great find. Thanks.