National Spending Slows Down

So what happens when housing prices fall? People can't (or won't) tap into their home equity, which reults in a slow down in consumer spending, which in turn hurts sales tax revenues from coast to coast. And what happens when new home sales decrease? That creates problems with unemployment in the construction industry, which in turn slows consumer spending. I see a patern emerging.

Check out this article from the New York Times: http://www.nytimes.com/2007/04/08/us/08housing.html?_r=1&oref=slogin