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Some fear that a slowing housing market may finally mean a contraction in consumer spending.
Rising interest rates and a slowing housing market can be a disastrous combination for overstretched homeowners.
With the economy slowing — housing sales plummeted, while earnings and hours worked ticked downward last month — the stakes grow larger, economically and politically.
The company, which makes DeWalt drills, Kwikset locks and Price Pfister faucets, said that weak conditions were likely to continue into 2007 because of the slowing housing market.
But further falls in export values, combined with a slowing housing market, make for a tough time ahead for the economy.
Analysts give several reasons: high interest rates, which make paying off household debt more expensive; a slowing housing market, which makes home-owners feel poorer; and a rise in fuel bills.
Similar(26)
Cook said in London the market had been cooling for several months "and is a real reflection of stretched affordability in the capital which has now translated into slowing house price growth which we expect to continue.
He will read about slowing house prices and is much more likely to default on the mortgage payments than Mr 75%," said Witherspoon, a former head of the property research firm Hometrack.
The slumping real estate market has also slowed housing sales.
Even with April's decline, the rise in mortgage rates has done little to slow housing.
But even though the pace of sales has slowed, housing prices are generally still on the rise.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com