Monday, Jul 28, 2008
That's not an Iceberg!
Bloomberg: IMF Says U.S. Housing Slump End `Not Visible,' Credit to Worsen
The International Monetary Fund said there's no end in sight to the U.S. housing recession and warned that deteriorating credit conditions for consumers and banks may prolong a period of slow economic growth.
``At the moment, a bottom for the housing market is not visible,'' the IMF said in its Global Financial Stability Report, released today in Washington. ``Stemming the decline in the U.S. housing market is necessary for market stabilization as this would help both households and financial institutions to recover.''
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