Bernard Baumohl Home Quotations

Housing prices in many communities will appreciate less rapidly --- and in some communities actually fall. This reduces the wealth effect from real estate assets, shrinks home equity borrowing, and increases pressure on households to replenish their savings.

People are going to be less inclined to drive to shopping centers. Instead, they're going to stay at home and if they carry on their usual holiday spending patterns then they will do it more likely online.