Wall St. Journal: Housing Downfall to Continue

The Wall St. Journal's "Economists See Housing Slump Enduring Longer" reports that "economists are giving up on the idea that the U.S. housing slump will be quick and relatively painless."

It continues: "Instead, more are concluding, the downturn that began nearly two years ago will last at least through the end of 2007, remaining a major drag on the U.S. economy. The culprits: a glut of homes for sale and growing caution among lenders who now regret being so free with their mortgages during the boom."

The entire article is available online, but can be read in its entirety only by WSJ subscribers.