NAHB: Flashback to the 1990s recession

It's beginning to look a lot like the early 1990s for the housing market, officials for the National Association of Home Builders trade group said during a "Credit Crunch" presentation Tuesday.

"The housing market is down, it's hurting, and it doesn't look like it's going to bounce back as quickly as we'd hoped," said Jerry Howard, CEO for the builders' group. The focus of the presentation was on problems in the mortgage market and the impacts on the overall real estate market and economy.

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