The problems in the mortgage industry are having a domino effect in the estate market. Increasingly, first-time home buyers are getting shut out of the market, and that hurts move-up buyers. Homeowners are also having more trouble refinancing their escalating adjustable-rate loans, and that is increasing the number of foreclosures and the supply of homes on the market.

Credit kicks housing down more (The Record)
If it weren't already tough enough in the home sales market, the recent rash of grave news coming from the credit sector and an antsy Wall Street are putting more pressure than ever on the real estate sector.