Monday, August 01, 2005

More Perspective from the UK


“Unlike battle-hardened Brits, who lived through a housing market downturn in the early 1990s when hundreds of thousands of homes were repossessed, Americans have never seen a nationwide boom-bust cycle in their property market. Instead, there has been a series of regional booms.

Analysts say this time looks different. 'The interesting thing about the latest cycle in the US is that even those regions that have previously not been affected by price changes are involved,' says Alan Castle of Lehman Brothers, who argues that overstretched housing markets cover about a third of the country.”



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