Wednesday, July 11, 2007

I’ll have a bit of that

S&P fears credit crunch as mortgage crisis hits house prices

Fears of a global credit crunch grew yesterday after Standard & Poor’s predicted that house prices in the United States would plunge 8 per cent this year, dragging down America’s capital markets and hitting economic growth.

Posted by holding out @ 09:14 AM (440 views)
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One thought on “I’ll have a bit of that

  • dohousescrashinthewoods says:

    I suspect they are understating the case to shore up confidence.
    Remember last year? Every month there were reassurances that the housing market had hit bottom and every month it got worse.
    I have taken to using my head rather than press releases to guide thinking – what a revolutionary idea.

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