Slowdown in US housing market underway

03/07/06 - Dresdner Kleinwort Wasser.

LONDON, March 6 (newratings.com) – Analyst Ian Harwood of Dresdner Kleinwort Wasserstein says that there are clear indications that a slowdown in the US housing market is underway.

In a research note published this morning, the analyst mentions that according to the Michigan survey released on March 3, those thinking "it a good time to buy" fell to 58%, the weakest reading since December 1990. The declining appetite for houses reflects the significant appreciation in housing prices over the recent years and the high mortgage debt-financing burden, the analyst says.