Friday, Sep 01, 2006

US house price crash could lead to global recession

Daily Mail: Home slump may batter Uncle Sam

COULD the US housing market pull us into a global recession? Half a decade after the dotcom crash, the American economy is once again on the edge of a precipice, and the effects can be felt from London to Beijing........

Posted by waiting patiently @ 02:59 PM (485 views)
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1. uncle tom said...

There seems to be one hell of a rush of interest in this.

I talked to several people about this when I was attending a convention in Wisconsin three weeks ago. They were mostly educated mid-westerners, not all from one-horse towns!

My residing impression was that the property boom was spent, but that the ingredients for an immediate crash were not yet in place. They came over as neither complacent nor panicky.

Separately, I noted that refinancing deals (MEWing in UK) were continuing to run at full steam. But with the stats from the home builders looking very shaky, my take is that hellfire and damnation has not yet arrived, but will not need much inviting...

Saturday, September 2, 2006 01:03AM Report Comment

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