The Housing Echo-Bubble Is Popping
There is nothing remotely "normal" about the echo-bubble's rise, and we can anticipate that its deflation will be equally abnormal. Conventional wisdom on the resurgence of the housing markets takes one of two paths: 1. Housing is not in a bubble, it is merely returning to "normal" 2. Housing is bubbly in some markets, but prices will continue to rise Here's an alternative view: housing is in an echo-bubble that's popping. Courtesy of the excellent Market Daily Briefing, here are some charts that make the case that the housing echo-bubble was just another speculative asset bubble that's popping, like every other speculative bubble in recorded history.
Ever wondered where all that chinese money is going apart from london
Cameron: 'The plan is working'
More than one in 10 parents admit skipping meals to save money and avoid risking losing their homes, a survey has found. Three million working parents in England are being forced to cut back on food so they can afford to pay for their homes. A YouGov poll of working families has found that rising housing costs mean more and more of our wages are needed to keep a roof over our heads. The problem has got so bad that more than one in 10 parents - over 750,000 people - admit to skipping meals rather than risk losing their home. Recent figures from the government's English Housing Survey show households are spending 28% of their weekly income on housing costs alone - and that rises to 40% for private renters. -- Short - Tesco --