Bloomberg (November 26)
“China’s economy continued to slow in November with car and homes sales dropping again as the housing market crisis dragged on.” While numbers for eight early indicators “stayed unchanged, under the surface there was a further deterioration in some of the real-time economic data.”
Tags: Cars, China, Crisis, Deterioration, Economy, Homes, Housing market, Indicators, November, Sales, Slow, Unchanged
The Irish Times (July 10)
“The Brexit planning document published by the Government on Tuesday is reminiscent of the warnings about the Irish economy and housing market that proliferated in the first phase of the economic crash a decade ago. It is one of the most alarming documents ever published by an Irish government…. Written in low-key officialise, it is a sobering read.”
Tags: Alarming, Brexit, Economic crash, Government, Housing market, Ireland, Planning, UK, Warnings
BBC (January 17)
In the UK, “Surveyors and estate agents reckon the housing market outlook over the next three months is the worst for 20 years….. It’s the most downbeat reading since records started in October 1998 and the pessimism is blamed on the lack of clarity around Brexit.”
Tags: Brexit, Clarity, Downbeat, Estate agents, Housing market, Outlook, Pessimism, Surveyors, UK
The Economist (August 20)
“What are the most dysfunctional parts of the global financial system?” While here are many candidates, “if sheer size is your yardstick, nothing beats America’s housing market.” At $26 trillion, “it is the world’s largest asset class” and “the slab of mortgage debt lurking beneath it is the planet’s biggest concentration of financial risk.” This wasn’t fully sanitized in the wake of the financial crisis. “Vast, nationalised, unprofitable and undercapitalised, it remains a menace to the world’s biggest economy.”
Tags: Asset class, Dysfunctional, Financial risk, Global financial system, Housing market, Mortgage debt, Size, U.S.
