From: "Tumbleweed" 
Newsgroups: uk.politics.misc alt.politics.bush uk.finance
Subject: Re: Six months to housing hell
Date: Fri, 7 Apr 2006 18:30:32 +0100


"Number 9"  wrote in message 
news:1144429010.689154.111500@v46g2000cwv.googlegroups.com...
>
> Tumbleweed wrote:
>> "Crowley"  wrote in message
>> news:1144426797.447874.100340@t31g2000cwb.googlegroups.com...
>> > MoneyWeek piece on the dire state of the US housing market, now of
>> > bubble proportions in many, mainly coastal, areas, and responsible in
>> > large part for a significant proportion of the US economy. What happens
>> > if/when it bursts and isn't the situation just as dire in the UK ? ....
>>
>> 'dire'? Why are lower housing prices 'dire'? I'd have thought they were a
>> good thing.
>>
>
> Not when Americans have leverged them beyond reason.


What, all of them? What proportion are 'leveraged beyond reason'?


>When you have
> borrowed more then your house is worth, I would say you are in a dire
> situation.
>

You are in a dire situation when you cant pay it back, which is different.

-- 
Tumbleweed

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