Friday, March 27, 2009
Roubini forcasts further 20% drop in the UK
Roubini advises US house buyers to wait before the buy a house as he sees another 20% drop in US house prices over the next 12-18 months. He argues that there has to be a significant improvement in the US economy before house prices stabilise. He questions why anyone would buy in this market instead of waiting as not only do they have to pay down a large deposit but this could get wiped out in the drop in prices.