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International Monetary Fund Predicts US Land Bust

After two years of record growth in land and housing values in the US, it's easy to wonder when it will end.

Source: TheTip, 2003-04-05

Candidate: WTO

The good piece of news in the American Economy adrift in a recession, unemployment and wartime setbacks for two years has been the housing market which in some areas has seen increases of up to 600%.

This has been attributed to the combined factors of a failing corporate debt market, leading to increased interest in consumer-oriented-land-backed debt by the banks.

But with unemployment still at record highs the ability for most families to afford houses in liveable areas is near impossible even with low interest rates.

An IMF Study said that the housing market has a 40% chance of dropping drastically in the next year as buyers are unable to enter the market and the recession continues to hurt consumer spending.
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User Originated Comments:

From: Linda
2007-09-28 00:00:00
another brilliant prediction. and who pays the
bills? consumers. again.

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