Re: Housing bubble to burst?
On Sep 14, 2006, at 11:42 AM, James Heartfield wrote:
The IMF warns Britain that its housing market is overvalued today -
just as the Citizens’ Advice Bureau warns that record numbers of
younger house-owners risk eviction through missing their mortgage
re-payments.My book ‘Let’s Build! Why we need five million new homes in the
next 10 years’ published later this month, explains why the
housing boom has not translated into a building boom.
It has in the U.S. - new housebuilding has contributed about 12% of
GDP growth over the last several years, the highest share on record.
Doug