US Housing Market Expected To Remain Shaky Says Home Depot

The housing market in the USA is expected to continue to struggle according to Home Depot Inc.

The soft housing market in the USA is mainly due to lack of credit and a squeeze on home loans and mortgages.

Home Depot said this softness in the property market to caused their income to decrease by 15% in Q2 and they expect the softness to continue until 2008.

Market analyst Sam Kirtley of The Gold Prices Newsletter thinks that the housing market is in for more than softness in the coming years, “We see a large housing crash coming as the market has been overinflated by cheap and easy credit. This credit is starting to dry up and so the housing market will start to crack and will eventually crash. This is when investor will turn to gold as a safe haven so we are telling our readers to invest in gold stocks to take advantage of this.”

What do you think about the housing and mortgage market at the moment?

Is the real estate and mortgage market about to crash?

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