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Old 07-29-2010, 01:19 PM   #35
AnneseeKels

Join Date
Oct 2005
Posts
571
Senior Member
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RE: The number of US foreclosures is a subject spoken here at length. Remember only 9% of all US homes were affected. Of those 9%, they were a victim of 1) China buying too many treasuries making mortgage rates too low 2) Wall St CDOs that were flawed 3) Alan Greenspan's 1% Interest rate after 9/11 and 4) most importantly, over building.
Anyone in the property game will tell you that 9% is influential enough to decide how the property price will move.
Another way to think of it is: China has driven your prices high while lowering them in the US. Noticed how China has been made a scapegoat, esp with flawed Keynesian economists like Krugman who have no solution for the worsing US economy. I think the US will be the odd man out in the disastrous loose monetary policies. The recession has never left us, it was hidden by the govt-made economic stimulus, which only worsen the economies of all the G20 countries.
NOW WE ARE ONLY JUST BEGINNING TO SEE THE TRUE EFFECT OF THE GLOBAL FINANCIAL MELTDOWN.
AnneseeKels is offline


 

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