Friday, 11 November 2011

The crazy US housing downturn

It is only when we look at long term data on housing starts that we begin to understand the magnitude of the crash that has befallen the US housing market. Currently, new home housing starts are at the their lowest level in fifty years.

Furthermore, the downturn has been far more prolonged than any previous downturn.

The current economic crisis is unique in so many ways.


Anonymous said...

We are living in a different world.

RenterGirl said...

Is this a problem in itself? The US downturn aka monumental property crash has caused vast empty suburbs where every home is empty. If people need a home, they could reclaim them.