Quote:
Originally Posted by Arctic Fox
There are plenty of signs of a severe downturn in US property, with home sales down for 12 straight months in a row, the weakest set of numbers for more than a decade.
If the property market crashes, it will tip the economy into recession.
If there are losses on mortgages, it will threaten the stability of the financial markets and will determine what the Federal Reserve will do with interest rates.
In 2008, the collapse of the subprime mortgage market triggered a global financial crisis.
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Ain’t be got nuttin do do with declining inventories from all the ny/cali escapees?