A Perspective of the Mortgage Crisis

Posted at 5:01 AM, Apr. 9, 2008

When questioning how bad is the mortgage crisis and remembering that it's always darkest before dawn, below you will find the link to an article featured on CNN.com/Money of an interview with Princeton economist Paul Krugman who states that most homeowners can anticipate a 25% drop in homevalue when the dust finally settles.

Princeton economist Paul Krugman spoke with Fortune's Jia Lynn Yang about the impact on the economy, the outlook for home prices, and the reasons for both fear and hope.  Click here for the full interview.

As relevant and important it is to keep abreast of economic factors that impact our housing market, I will take this opportunity to remind Chicago homeowners, buyers and sellers, that every market is specific as is every property.  Be informed, not influenced.