Nation's Housing Market Set For A Slow Down:

A recent study conducted by the University of California predicts a steady decline in the housing market for the nation as a whole. This decline will cost upto 800,000 jobs in the housing industry. Construction jobs and financial sector will be mainly affected by this slow down.

The slowdown is expected to start in the next six months. Though the slow down may cost in other sectors of the industry too it might not result in full blown economic recession according to the economic experts.

Several factors pointing towards the housing slow down are in evidence. One is the decline in new housing construction which is 5.6 percent down, second is the downward trend in the new mortgage applications, new homes sales have also declined, many regions have seen homes remaining unsold for longer periods and housing construction is higher than population growth.