LendingTree.com, a large U.S. mortgage lender, was hit by the downturn in the housing market.
As a result, consumption should take less of a knock from the downturn in the housing market.
Closer to home, the Bank of England is not expecting a pronounced downturn in the housing market.
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The survey suggests that the consumer slowdown, linked to the downturn in the housing market, is continuing.
So any downturn in the housing market could easily cause one or both of them to stumble, with knock-on effects throughout the economy.
"Now that oil prices and mortgage rates have stopped falling, we will be back lamenting the downturn in the housing market and its spreading effects on the economy in the second quarter, " Merrill Lynch economist David Rosenberg wrote.
Although the financial crisis started in the US as a result of the sharp downturn in the country's housing market, it quickly spread around the world as US mortgage debt had been repackaged and sold to banks and other financial institutions around the globe.
Even before the downturn in the nation's housing market, though, St.
The world downturn will be led by problems in the US housing market, but the IMF warns that excessive house price inflation in some European countries, including Spain, Ireland and the UK, has made them more vulnerable to a slowdown.
Major investment firms have been setting aside billions of dollars for large scale acquisitions in single family housing since the downturn, with activity jumping in 2012 as analysts called a market bottom.
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The original regulations were brought in to reduce the risk of repossessions during the recent housing market downturn.
On the bright side, however, the commercial-property downturn isn't expected to be nearly as steep as the current slump in the housing market, where recent data showed foreclosures rising to the highest level on record in the fourth quarter of 2007.
While the housing market has experienced an extended downturn, the apartment market boom that started in 2010 is continuing full steam ahead.
The Tri-Cities area has one of the lowest unemployment rates in Washington State, and the housing market has barely been affected by the recent economic downturn, according to the Tri-Cities Industrial Development council.
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