Renters gloat over housing slump. - US
Some who missed the boom are feeling vindicated now; resisting 'nesting instincts'.
"The housing slump has been painful for millions of people who work in real estate or recently bought a house."
"Dean Baker, an economist, sold his condo during the housing boom and now is renting an apartment for about $2,300 a month. Now, with the housing market in a slump, renters who sat out the boom are finally getting some satisfaction."
"Now that the housing market is slumping, "I feel vindicated," Mr. Jackson says. "But I'm not looking forward to the coming recession." He believes that the housing slowdown and the effects of "a mountain of debt" on consumers will pull the entire economy into a slump."
Some who missed the boom are feeling vindicated now; resisting 'nesting instincts'.
"The housing slump has been painful for millions of people who work in real estate or recently bought a house."
"Dean Baker, an economist, sold his condo during the housing boom and now is renting an apartment for about $2,300 a month. Now, with the housing market in a slump, renters who sat out the boom are finally getting some satisfaction."
"Now that the housing market is slumping, "I feel vindicated," Mr. Jackson says. "But I'm not looking forward to the coming recession." He believes that the housing slowdown and the effects of "a mountain of debt" on consumers will pull the entire economy into a slump."
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