Monday, Jan 12, 2009
No way out - house prices will keep falling for years
The Huffington Post: Sorry, America, There's No Quick Fix
* Even Obama's people project that, if his stimulus plan is adopted, unemployment will remain at the current level (7.3%) for three years.
* Consumers still have way too much debt, and they're now losing jobs at an accelerating rate. We're not going to suddenly jump back to irresponsible debt-fueled spending growth, especially with banks and credit-card companies tightening lending standards.
* House prices are falling at almost 20% year over year. Markets that big don't turn around on a dime, no matter what you do.
Posted by v stor @ 05:52 PM (251 views) Add Comment
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
No comments have been submitted.
Be the first person to add your comment by completing the form below.