Wednesday, February 28, 2007
In the US, is the worst over?
As home values fall, is the US heading for the much-feared 'hard landing'?
A doom and gloom article which suggests the economic situation in the US might take a turn for the worst - a 'soft landing' might not happen afterall.
Posted by talking rot @ 11:22 AM (534 views)
One thought on “In the US, is the worst over?”
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Pedagog says:
“At the same time, rising interest rates were driving up mortgage repayments, eating up spare cash. Overstretched buyers, drawn into a red hot market by taking on over-large loans with teaser initial rates, would be forced to put their homes on an already overloaded market – adding to the downward pressure on prices, and perhaps dragging other squeezed mortgage holders over the brink.”
Ring any bells?!