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Shahla
Money Managing Guru
Joined: 13 Nov 2004
Posts: 3324
Cash Points ££ 126163.28
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 Posted: Thu Aug 23, 2007 3:37 am Post subject: US Housing Market Collapse Not Correction! |
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By: Ned_W_Schmidt
With U.S. mortgage defaults up 90+% from a year ago, collapse of U.S. mortgage market is being felt around the world. U.S. housing starts have fallen to a ten year low, and are headed lower. Financial infrastructure that fueled this speculative bubble is being dismantled. Rate is important, but so is means of funneling money to borrowers. Mortgage financing system begins with mortgage brokers at front end. Mortgages then travel through layers of investment bankers till ultimately residing in portfolios of gullible investors around the world.
That system is disintegrating through bankruptcies and layoffs. System that created the money flow from investors to housing is being dismembered. Less money will flow to housing market. Less money means lower prices. Given long-term nature of housing and collapse of financing mechanism, U.S. housing starts will fall 50% from current levels as sales stall.
http://www.marketoracle.co.uk/Article1894.html |
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