Friday, June 25, 2010

The US housing horror story is about to get even worse

The US housing horror story is about to get even worse

Things are going from bad to worse in the American housing market. Despite a 30% fall in prices, builders still can't shift houses. And as more borrowers default on their loans, bad debts at US banks will rise. That's bad news for the rest of us.

Posted by damien @ 11:40 AM (1419 views)
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2 thoughts on “The US housing horror story is about to get even worse

  • When we look around the world at countries in recession we see house prices crashing through the floor, but yet here in old Blighty we have so far managed to keep the wolf from the door.

    When the boat sinks in front of us all then maybe the Sheeple will finally wake up to the fact that missing it no longer matters…

    The market drivers of both fear and greed are now at an end and I’m calling a double top in housing. This months HPI figures should turn negative, or at worst next months, then the slope down should resume.

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  • happy mondays says:

    @ 1 When the boat sinks in front of us all then maybe the Sheeple will finally wake up to the fact that missing it no longer matters…

    I would like to think so! but this shuffling around of figures, low interest rates, pumping illusionary money into the system,the greedy for gold attitude is keeping it above the water line! But what ever happens i will not be a part of this ponzi scheme & will not put that debt noose around my neck…
    Rerum Mutatio

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