And their deadly plans! :: IIPM Editorial
US & Europe face a deadly recession due to slump in housing prices
Be it an active mortgage broker in Madrid, or Paris Hilton in New York, or Lenny Kravitz in Miami, or Mel Gibson & Britney Spears in California; there’s something common about all of them. First, everybody has made fortunes out of the recent housing boom. Second, each one of them, and the US & Euro economy, equally run the deadly risk of going belly up once this bubble pops. The June 2006 data of the US housing sector is definitely no breather for those who are still locked in the sector as the Home Builders/Wells & Fargo Housing Market Index (HMI) slipped to its lowest since 1995. On an extremely perilous note, HMI, which was at 46.01 points in May 2006, came crashing down to 42.39 in June.
Be it an active mortgage broker in Madrid, or Paris Hilton in New York, or Lenny Kravitz in Miami, or Mel Gibson & Britney Spears in California; there’s something common about all of them. First, everybody has made fortunes out of the recent housing boom. Second, each one of them, and the US & Euro economy, equally run the deadly risk of going belly up once this bubble pops. The June 2006 data of the US housing sector is definitely no breather for those who are still locked in the sector as the Home Builders/Wells & Fargo Housing Market Index (HMI) slipped to its lowest since 1995. On an extremely perilous note, HMI, which was at 46.01 points in May 2006, came crashing down to 42.39 in June.
For complete IIPM Editorial Article, please click here...
Source: IIPM Publication, Editor: Arindam Chaudhuri
posted by Parijal at 12:49 AM
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