We cannot simply cut our way to prosperity, and if Republicans continue to insist on an unreasonable cuts-only approach, the middle class risks paying the price.
"The index topped a few months ago, and on each rebound we're seeing lower highs followed by lower lows, " says Stack, who cautions that it's not unreasonable to assume that home owners will see 30% to 50% of the last five years' price gains erode as interest rates and high home prices put an end to the boom.