Saturday, Jun 24, 2006

How the credit crunch will hit property How the credit crunch will hit property

The most important asset that stands behind this debt nightmare is the housing market, which in America is crumbling. Chickens are coming home to roost and debt deflation is likely to be hatched from their eggs.

Posted by Steve @ 01:38 PM (504 views)
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1. Magnifico said...

A recent survey found that 83% cited excess expenditure over income as the reason for financial failure. In other words, they did it to themselves .
...indeed, but wait for all the whingeing and the calls of foul play when these debt junkies are made to face the music ( like ther woman in the article earlier in the week).
The annoying thing is that the prudent and the sensible will in some measure pay for the madness through inflation and unemployment.

Sunday, June 25, 2006 09:11AM Report Comment

2. The Capitalist said...

I'm in my EA office has not yet rang. So it's the World Cup? I predict a dire summer (reason by VI - we've all gone away for hols). Rate rise late summer will ensure a very dire autumn. And who buys houses in Nov and Dec?

James F is one of the few sane voices out there. Also recommended is Bill Bonner (Daily Reckoning).

Me? I'll be a debt counsellor next year.

Sunday, June 25, 2006 10:42AM Report Comment

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