Wednesday, April 4, 2007

Some parts of US are in real deep trouble.

Detroit Home Sellers See Dearth of Buyers as Foreclosures Climb

If what's happening in Detroit is indicative of general scenario in US then the house market there is in real deep trouble. And then UK is bound to follow in the same way.

Posted by rj @ 11:58 AM (389 views)
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2 thoughts on “Some parts of US are in real deep trouble.

  • Gosh! We are so lucky that things are so different in this country. That couldn’t happen here.

    Keep buying houses, everyone! Keep those prices rising! (- We don’t want to end up like those silly Americans!)

    (………….What I’m really thinking: How stupid are the current wave of British housebuyers? and how can they get access to as much money as is now required to enter the game?)

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  • Just hold on there. Detriot is car central and the big three are shedding their workforce in extrememly large numbers from line workers all the way up to engineer level, i know this as I work for one of these rather large car companies, this is having a huge impact on the local economy.

    Although I admit the US is generally in deep sh!t (nice), Detriot is not really comparable with any other region even within the US.

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