Friday, Jul 02, 2010
Obama
Yahoo: Howard Davidowitz: U.S. Economy
As far as the actual economy goes, Davidowitz's chief concern is the strained state of the housing market, from which the bad news continues to pour in. According to Davidowitz, Americans are facing an $8 trillion negative wealth effect from the bursting of the housing bubble.
"We're talking about some serious money here," Davidowitz exclaims. "I mean this is a complete disaster and that's why we are going to have a double dip. We're guaranteed a double dip in housing."
Impact on UK property market highly likely!
Posted by cdo1 @ 10:55 AM (333 views) Add Comment
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