Home Ownership Is in Secular Decline

I have been getting bombarded with questions about what the state of the debt ceiling debates and now the downgrade of U.S. Treasury debt does to the already flattened housing market. So let's talk about it:The obvious result is that borrowing costs are likely to go higher at some point in the future, which does create a headwind for a pricing recovery given that a greater percentage of people's monthly payments will be allocated to pay more interest on loans. That much is obvious. What is not so obvious is how it makes the already shrinking pool of potential buyers