The Bloom Is Off the Housing Rose »

Posted By populist 1 year, 2 months ago in Business & Finance

Prop it 17 Drop it

The international economy will continue downward for the rest of 2008. The housing markets in Western Europe and North America will continue downward for at least two years, and possibly as long as five years. The end of the illusion regarding living in your own ever-expanding ATM is here.

We now await the re-inflation of the money supply by Western central banks. Even then, I don't think it will be enough to reignite the housing markets. The bloom is off the rose. Only the thorns remain.