Wednesday, May 17, 2006

An omen of things to come?

CNN: Housing slowdown to be widely felt

A view from the other side of the pond on the bleak prospects for the housing market. CNN - not usually know for its bearish outlook.

Posted by harold @ 04:41 PM (685 views)
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1. uncle tom said...

The US housing market is probably better to watch than the Australian one.

Historically, falling house prices have been followed by a collapse of equity withdrawal and consumer spending - but not straight away.

I am not sure that the time lag will repeat, as MEW on both sides of the pond has been more extreme during this boom, and the principal offenders are probably running close to empty when it comes to available equity. However there's a lack of good data on debt and MEW distribution - so we'll have to wait and see!

Wednesday, May 17, 2006 05:20PM Report Comment

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