Globonomics!

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US economy snapshot: Who’s to blame in the US housing bubble burst?

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In conjecture, its probably all of them.

The mortgage lenders, the brokers, the buyers, the sellers, the mortgage market, the economists – everyone – in my opinion.

Here’s an interesting article from MSN.com

http://articles.moneycentral.msn.com/Investing/JubaksJournal/WhollRescueHomeownersInTheHousingMess.aspx

Many have raised the odds of a US recession at 50:50 now.

The USD is depreciating against a whole load of currencies (this is from the perspective of the USD and not the INR) and moreover the US economy is witnessing its worst slowdown in 16 years (to put things in perspective again, its the worst slowdown that has hit the US economy in the home mortgage market since 1991!)

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Written by Naveen Athresh

October 23, 2007 at 9:25 pm

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