Thursday, July 17, 2008

20% down makes savers of spenders (National Post, 17 Jul 2008, Page P7)

I will be blogging on the issues raised in this article in the next day or so, but thought it was worthwhile noting this article. Some frightening stats and quotes.

20% down makes savers of spenders
BY BOB IVRY Bloomberg News
National Post
17 Jul 2008

NEW YORK • The U.S. housing crisis may accomplish what years of parental hectoring couldn’t: Turn Americans from spenders into savers. Spending will fall because homeowners can no longer use rising real estate values to borrow cash — US$837.5-billion...read more...
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