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I would argue that low sales don't necessarily equate to "worse" when it comes to the housing market. The correct word is "lowest sales". Sure, it's worse for the banksters and the realtors and the finance companies who can't grift as much for their cut, but not necessarily for the buyers.
It's only natural think twice before playing musical house when financing a mortgage is bringing much more expensive payments to the table. If you don't have to move and you have a roof over your head, you're calling up the local remodeling company instead if you want granite countertops.
Which does bring up the point that some sellers are getting hosed - those that must move due to a job loss, layoff, transfer or the ever present need to put some distance between themselves and lefties. They may have to sell when their house is underwater, and finding a new place to live that's affordable - well now, that's a problem.
What I don't know is the percentage of sellers that have to move versus those who don't need to versus those who have the cash to skip financing. But my gut tells me it's a smaller group forced to move.
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