Common Ground Common Sense > Another Real Estate Crisis Is About To Hit By Paul Craig Roberts

Full Version: Another Real Estate Crisis Is About To Hit By Paul Craig Roberts

Common Ground Common Sense > Issues that Affect Our Lives > Job Market, Fiscal, and Economic Policies > Job Market, Fiscal, & Economic Issues Archive

Snuffysmith

Jan 22 2009, 06:15 PM

Another Real Estate Crisis Is About To Hit

By Paul Craig Roberts

The growth of debt has outpaced the growth of real output. Yet, the solution offered by Obama’s economic team is to expand debt further. This is not surprising as Obama’s economic team consists of the very people who brought on the debt crisis. Now they are going to make it worse. Continue

tomhye

Jan 22 2009, 06:25 PM

It isn't about to hit, it's been hitting for some months. Commercial is a lot lower total value than residential and this bubble isn't as bad as the one in the 80s by a pretty wide margin. Now the policy of trying to slow price slides by lowering mortgage rates is a HUGE risk, one that people should push against but mst won't because they think it benefits them.

jeffmoskin

Jan 22 2009, 07:04 PM

I wonder if anybody noticed that the World Trade Center contained 10 percent of the total commercial R/E in NYC. In one day, that floor space was forever taken off the market.

Must have helped out all the landlords.

Bet they contributed to BushCo.

After all the hype about rebuilding the "Freedom Towers", is anything really happening at ground zero?

I've looked at Google Satellite photos. Looks like a construction site.

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