Economics: US Housing Market

The US residential property market is showing signs of cooling though an increase in equity withdraw...

The US residential property market is showing signs of cooling though an increase in equity withdrawal has fuelled the sluggish consumer sector. Matthew Merritt, head of strategy at Insight Investment, says there has been evidence in recent months that the US housing market is starting to soften up, pointing out that the national association of house builders’ index has slipped to a ten year low. A recent report from the Federal Reserve board echoes what Merritt says. The Beige Book is produced by the Federal Reserve Board, based on information collected on or before June 5, 2006, and summ...