In recent months the U.S. housing market has witnessed its share of stormy weather, as housing prices continue to fall. Although the Fed has taken significant steps towards making cheap credit, interest rates remain high, as a man troubled financial sector continued to record write-downs. So far, only a quarter of the IMF estimated $ 1 trillion to the south-prime losses were reported, which means that mortgages will not be available for a long time, even if the house continues to depreciate. According to Case Schiller house price index, which covers 20 major metropolitan areas, house prices are depressing at an annual rate of 12.7%, although the pace is accelerating descent. As long as homeowners continue to lose equity, loans will become increasingly difficult to obtain.

Since the feedback works themselves, at the regional level depends phenomenon began to emerge. While house prices fell on average in U.S. history did not end there. Despite reduced forecast of economic growth and commodity-related inflationary pressures, (which felt much more diffusely throughout the economy) several urban areas remained more robust, which explains the dissenting votes at the last two rate cuts by the regional Fed chairs from Dallas and Philadelphia , Respectively. Part of their reasoning is based on the work on what they see as deceptive about the scope of Fed powers among many investors, namely that the central bank is the only agent responsible for assisting challenged markets. The political struggle has and will continue to play a role in their decisions, particularly in the charged atmosphere of an election year, but dissenting voices are the viability of many areas of the U.S., which continue to experience growth. In Charlottesville, North Carolina in Austin, Texas, many urban areas continue to grow rapidly, seemingly isolated from much of the speculation and predatory lending, which defines the areas of the United States. While some of the hardest-hit markets in south-west of Phoenix, Arizona, and Las Vegas will take considerable time to rebound, some price adjustment is inevitable. This is partly due to property value spiral in recent years, without a corresponding increase in demand and infrastructure. In markets where growth has been stable, housing prices were relatively stable.

If the federal government to make further steps to freeze or help re-negotiate over an estimated two million south-prime mortgages are projected to default during 2008, prices may stabilize in a short period of time. Politicians, the closing of a number of solidarity is likely to be reluctant to make efforts bipartisan priority in the presidential race remained in focus, which makes investments in the short and medium term are likely to be more profitable as markets, where prices overcorrected and stable markets. This is because any government based on mortgage interest rates freeze may be less favorable than current rates, which are firmly negative. In addition, the refinancing remains available should climate change. In any case, the worst may be over for many of America, but some places that have stood the past eight months on the sound.