Wednesday, May 24, 2006

(C)rumblings in the Interior

Money Week: Is the US housing market crumbling?

This article indicates that the US economy has peaked and is tipping into an unstoppable bust. The property market is crumbling - "the real US hard landing starts now".

Posted by harold @ 10:00 AM (3090 views)
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4 Comments

1. talking rot said...

The article appears mis-titled because it is not predicting that the US housing market will crumble. It is stating that the US housing market IS crumbling. Sadly it does not state the causes of this crubling.

The question is, when will it happen here?

Wednesday, May 24, 2006 01:27PM Report Comment
 

2. Waitingfor Thecrash said...

the clouds are gathering....I feel a storm is coming......

Wednesday, May 24, 2006 01:42PM Report Comment
 

3. uncle tom said...

As I've said before, I think it is more informative to watch the US market than the Australian.

Although the Australian property market is structurally closer in format to ours than is the American, the Australian economy is on a much firmer footing, and has not become anything like as dependant on consumers spending money they don't have.

In America, the phenomenon of home-owners 'maxing out' on equity withdrawal, looks like becoming a major factor much sooner than in the UK.

The question in my mind at the moment, is will the lenders throw the last vestiges of caution to the wind, and let people deliberately MEW themselves into negative equity, by allowing them further advances, even though they already owe more than the value of their home - or will they pull up the drawbridge and force people to cut back their lifestyles.

Commonsense dictates the latter option - but I'm not sure...

Wednesday, May 24, 2006 02:05PM Report Comment
 

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