Saturday, August 11, 2007

US housebuilding/ homeowning in crisis

No homes for Yanks to go to

I expect a lot of builders are about to lose their shirts on the housing market and the obvious areas where things will go bad first, and worse, are the newly hip areas such as Bed-Stuy. It’s a story that is being replicated across America. Millions of people are stuck in homes they thought were great investments and saddled with mortgages that look increasingly burdensome. Builders are left with half-developed plots that few people can afford.

Posted by veritas @ 11:44 PM (504 views)
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One thought on “US housebuilding/ homeowning in crisis

  • Retiredbanker` says:

    It will now be interesting watching all these free-wheeling entrepreneurs who have/are about to get badly burned, demanding that
    the government ( i.e the tax payer ) bail them out.

    Privatise the profits, socialize the risks. Nice arrangement if you can get it!.

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