Friday, Jun 22, 2007
Futurecast: here is how it will happen in UK
CNN: Out of touch with realty reality
Despite turmoil in the housing markets that includes record foreclosure numbers, mortgage rate increases and home price depreciation, homeowners don't believe there's a real estate slump, according to a new poll. The overconfidence of homeowners doesn't jibe with the findings of most home-price indices, which point to lower median single-family house prices of about 2 percent nationwide. "Americans [are] positive about their homes' value and believe in a bounce-back in residential real estate overall"... But II ask you a question... WILL BTLers HOLD THEIR NERVES?
Posted by confused76 @ 11:43 AM (160 views) Add Comment
2 Comments
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1. bidin'matime said...
Headline says it all really. Worrying thing is that, despite all the signs to the contrary, borrowers keep on spending on the basis that they believe their equity to be sound.
2. sold 2 rent 1 said...
The Duesenberry Effect says that debts are increased to maintain living standards when income falls.
http://cepa.newschool.edu/het/essays/multacc/ratchet.htm