Its not all bad...take a look at this example of the power of a "Buyer's
Market': Economist Karl Case (of the Case-Shiller home price index)
provided a useful (if not obvious) perspective on just how affordable
houses are these days. In short, Case notes that four years ago, the
monthly payment on a $300,000 house with 20 percent down and a mortgage
rate of 6.6 percent was $1,533. Today that $300,000 house would sell (on
average) for $213,000 and a 30-year fixed-rate mortgage with 20 percent
down would carry a rate of about 4.2 percent and a monthly payment of
$833. What's more, the 20-percent down payment would be knocked down to
$42,600 from $60,000





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