Will Wall Street’s Convulsions Impact Housing?
The one-two punch of a 1,000-point drop last week for the Dow Jones and another 1,000-point plunge in early trading this morning has been among the most dramatic negative activity seen on Wall Street in some time. But how does this tumultuous activity impact the U.S. housing market? David H. Stevens, president and CEO of the Mortgage Bankers Association (MBA), stated that the display of Chinese shakiness serves to highlight the economic stability on this side of the Pacific.
