Nationwide Decline Unlikely: Freddie Mac CEO

Few people realize how much of a driving force housing is in this economy, or that mortgages available in the U.S. are not available in other countries. California's (and the eastern) coastal markets have seen stronger prices than elsewhere, but overall, the CEO of Freddie Mac said yesterday that incomes are keeping up with the price increases, and a housing bubble is not where we're at. Certain markets will slow, but a nationwide decline is unlikely. Click on the link for yesterday's speech.