Tuesday, Apr 03, 2007
More stuff on the subprime market
The Market Oracle: US Housing Market - All Foreclosures, All Subprime, All the Time / Housing-Market / US Housing
At the risk of being all subprime, all the time, this week we look at what I think are the real risks for the economy as a result of the subprime debacle. How can one side say it is a contained risk (and in one sense it is) and not a problem for the economy while another side says it will drag the US into a recession and thus be a drag on the world economy? The answers will give us a handle on the whole issue, as we look at how the problem developed.
Posted by bufferbear @ 10:13 AM (143 views) Add Comment
2 Comments
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1. royston said...
House prices in Detroit have dropped below $7000? - I love it!!!!!!!!!!
2. Fahrenheit451 said...
Not sure how to read this.
1) Good - prices have dropped.
2) Bad - people have lost a lot of money, and again the less well off have effectively been conned out of any spare cash when they were repossessed due to increased in base rates.
3) Average - UK property investors have been conned out of thier money (should have invested in UK, at least they would have benefited OUR economy not the pockets of PrimeInvestor, etc companies)
Who's going to pick up the tab when home owners are booted out due to miss-selling of morgages they were not really able to afford, and would have been better of in rented accomodation and even better now when rents will drop to match the drop in prices. And what about pensions again?