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"Experts" used to say, and I do agree from personal experience, that 7 years is how long it takes to normally make money on one's home--which is an investment along with a roof over one's head--so in many cases 14 years means much of the mortgage is paid off.

Now people would be wiser to go for shorter term mortgages and more money down---which was the norm before. 20% was recommended. Then became 0 down and lets roll in your car and the new furniture you are going to buy on this new "one time only--new temporary loan" we have for you. Forget you have been bad in the past..the government forgives you!! Here's the key. [We had an extra made just in case].

The job losses however greatly effect the housing situation. If the layoffs are in upper management where they most often are in making a trim--that hurts these prior big spenders, larger donors to charitable organizations, private schools, auto industry as bigger consumers, aka building wealth for the overall rest of the economy.

It's OUR investments not making the percentage gains they once did because we have such lack of faith in this Administration. We have locked up the investment cash box and will take little revenue, just to have revenue.

I feel if we find Confidence in a new leader, everything positive is possible. Reagan gave Confidence--I guess not an easy trait to muster, considering we have not seen IT for a while. I would have to admit under torture that Clinton gave confidence[but the Internet revolution was unfolding], that Bush gave confidence that we would be safe after 9/11, his sworn priority! ALL compared to what we feel from this Obama Administration now.

Being a house all divided is not helping anything at the moment but the Left love to watch a "good crisis" and hope they can win by default.

This lack of Confidence in the Obama Administration is a HUGE HUGE job, housing and overall MOOD killer!!