Friday, May 22, 2009
Think you see green shoots? You're wrong ...
Forbes: Don't Believe The Optimists
Nouriel Roubini on 'green shoots' and the housing market in the US. He doesn't see US prices stabalising until 2011.
"Beware of the nonsense about green shoots in housing: The worst housing recession since the Great Depression is still in full swing, and the yellow weeds have taken over millions of empty housing lots--and are still going.
A careful and detailed analysis of the four green shoots of recovery (employment trends, retail sales/consumption, industrial production and housing) that Goldman Sachs and other proponents of the "green shoots" hypothesis have been brandishing for three months now suggests that all four green shoots are still yellow weeds."
Posted by katalan @ 10:03 AM (402 views) Add Comment
1 Comment
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1. techieman said...
Roubini is always a good read. Mybe U maybe W but was never gonna be a V.