Saturday, Jun 24, 2006

Where is the housing crash?

Moneyweek: Where is the housing crash?

The last housing crash happened over a seven-year period, much like a falling line of dominos. So far, our domino effect has halved mortgage equity withdrawal, the rate of personal spending and economic growth in the space of just a few months.

Posted by Steve @ 11:29 AM (2726 views)
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1. Geed said...

A thorough and interesting post. The financial advice in this article is pure "common sense". Ironically its the lack of financial "common sense" which has lead us into this mess.

"If you or anyone else you know is buying a house right now, make sure you can comfortably cover the mortgage payments even under adverse circumstances. If you cant, youre paying too much and that could spell trouble ahead."

My Dad taught me this when I was 10.

A perfect example of how we have forgotten financial fundamentals, its not rocket science but greed is all conquering. I can only imagine that such truthful articles will be appearing more frequently in the press as the latter half of 2006 rolls by. Reality will dawn for many.

Sunday, June 25, 2006 05:08AM Report Comment

2. tyrellcorporation said...

This article is like therapy for me! :)

Sunday, June 25, 2006 01:52PM Report Comment

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