Monday, December 31, 2007

Where it all began – Even savvy Wall Street veteran and billionaire Wilbur Ross could not figure out what was happening.

City of debt shows US housing woe

Correct use of the word "Massive" Professor Roubini says that even at the low end of the estimates the potential impact on the rest of the economy is massive. At work and posting, new years eve and nobody wants to know about what SIVs are and where they came from but this article does offer a very simple explanation and worth a final read. It does clearlly look like where the US goes we "have" to follow. So yes it is absolutely inevitable that our prices will dramatically crash next year.

Posted by darren @ 02:09 PM (31 views)
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