“Thousands give up on home ownership dream,” reports Eli Greenblat in today’s Age. The Australian Bureau of Statistics reported yesterday that the number of new home loans for owner occupied housing fell by nearly 8% in May, and by 25% in the last four months. Builders aren’t building, even though immigrants are still coming to Australia in droves.
July 10th, 2008 | Dan Denning | 1 comment | ContinuedAll Posts Tagged With: "mortgage"
More Cash and Credit: How the Economy got Here in the First Place
This time, the financial authorities aren’t even opening the medicine cabinet. They’re afraid the patient couldn’t stand the treatment. Instead, they’re administering the old elixir that got the economy into serious problems in the first place - more cash and credit.
March 5th, 2008 | Bill Bonner | 0 comments | Continued
Housing Decline Will Put 10 Million Homeowners Upside Down, With More Mortgage Than House
Housing decline will put 10 million homeowners upside down, with more mortgage than house. It will lead to collapsing credit…defaults…and huge losses to lenders. It will also bring about a big cutback in consumer spending and unavoidably push the United States into a deep recession.
February 21st, 2008 | Bill Bonner | 0 comments | Continued
Barack Obama Promises Voters That He Will Deal With Economic Matters in a Level-Headed, Pragmatic Way
Meanwhile, from the 50 states, the Democrats’ own darling, Barack Obama, promises voters that he will deal with economic matters in a level-headed, pragmatic way. He apparently had no economic program of his own, so he took Ms. Clinton’s.
February 19th, 2008 | Bill Bonner | 0 comments | Continued