Fortune magazine reported late last week that the "economic storm pelting the U.S. economy is going to do plenty more damage to already flattened job and housing markets."

With the stock market continuiing on it unstable path, and many top economists agreeing that the economy is now in recession, many are left even more shy about entering the real estate market.

Many consumers are now putting their money in savings. Fortune reports that the savings rate in 2nd quarter 2008 was 3 percent. Up over 2 percent from the last few years.