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" Home Foreclosures Hit Record High "

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Home Foreclosures Hit Record High
Thursday March 6, 10:06 am ET
By Jeannine Aversa, AP Economics Writer
Industry Group Says Home Foreclosures at Record High Last Quarter
WASHINGTON (AP) -- Home foreclosures soared to an all-time high in the final quarter of last year, underscoring the suffering of distressed homeowners and the growing danger the housing meltdown poses for the economy.

With recession now a given we might soon hear the following conversation:

Meedja: "Mr. Greenspan, what do you consider the chances of this recession becoming a full blown depression?"
Al: "Its possible that we will probably have a depression, but its not likely to be probable, only possible."

Until very recently I was 100% sure of a recession. However, I now think the chnaces of a depression are looking a bit more likely. Not quite 50:50 but a good one third chance that it will happen.

All of the ingredients are there: OIL soaring, houses plummeting, credit markets seizing up.

Short term: Inflation coupled with a continuing HPC

Medium Term: Severe recession, rapidly disappearing inflation and a melt down in commodity prices including metals and oil.

Long term: DEFLATION.

Happy days are here again, the skies are blue......... :o:o:o

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  • 293 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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