Housing May Sting More Than Dot.Com Bust
only those parts of the country that Federal Reserve Chairman Alan Greenspan describes as "frothy," the U.S. has a serious problem.
If prices were merely to level off, it could subdue the property-linked activity that has stimulated spending and job growth -- crucial supports for the U.S. economy.
Based on benchmarks from a recent International Monetary Fund study comparing the stock and housing market bubbles, there are about 15 states that are vulnerable to a housing market correction. These represent about 35 percent of gross domestic product, the broadest measure of the nation's economy. http://money.cnn.com/2005/07/01/real_estate/us_housing_market.reut/index.htm />
If prices were merely to level off, it could subdue the property-linked activity that has stimulated spending and job growth -- crucial supports for the U.S. economy.
Based on benchmarks from a recent International Monetary Fund study comparing the stock and housing market bubbles, there are about 15 states that are vulnerable to a housing market correction. These represent about 35 percent of gross domestic product, the broadest measure of the nation's economy. http://money.cnn.com/2005/07/01/real_estate/us_housing_market.reut/index.htm
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Sorry, folks,
The links to the articles I post keep getting "lost in translation."
Here's the active link to the rest of the article:
http://money.cnn.com/2005/07/01/real_estate/us_housing_market.reut/