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Power steering problems aren't too rare, so don't be surprised if it happens to you. It is therefore important to know about these problems, and the cost of their repair. A major overhaul of the entire power steering fluid system can cost around $500-$650, mostly because of the fluid pump's cost and labor charges. Individual problems linked to the fluid hose, valves, etc. can cost much less.
Best Answer: That looks like power steering fluid leaking from the rack all right. Those are the rack boots and tie rods we see, I'm sure. The most likely reason for a power steering leak from the rack of a relatively new Honda would be the wrong type of fluid. Honda power steering fluid is not the same as most power steering fluid and if it was topped up by somebody who did not know it attacks the seals in the rack and pump.