DETROIT  The market for sport utility vehicles is starting to look a lot like the housing market, spreading pain to consumers, automakers and dealers.

Even the vocabulary is sadly familiar. Bloated inventories? Days spent on the market?

Well, in July, General Motors dealers had a 174-day supply of the Yukon XL/Suburban on hand, on average, up from a 92-day supply a year earlier. Inventory of the Chevrolet C/K Suburban nearly doubled over the same period, to 116 days from 63 days.

Just like hapless homeowners, countless car owners are now “underwater,” driving vehicles that are worth less than the balance on their car loans. And just like desperate homeowners, the sellers of S.U.V.’s are having to painfully cut asking prices.

For instance, Michael Kohan, a recent graduate of Hofstra University’s law school, decided that hundreds of dollars a month filling up his 2006 Land Rover LR3 would be better spent paying down his student loans. He calculated that his vehicle  loaded with luxuries like a navigation system, xenon lights, parking assist sensors, heated leather seats and three sunroofs  should be worth at least $31,000, according to the Kelley Blue Book.