Saturday, March 17, 2007

Housing Bubble About to Burst?

The U.S. economy has been operating in an unsustainable mode for some time now, and many experts have been predicting a serious "correction" for some time in the future. One of the multiple problems ( huge budget deficit, trade deficit, etc.) is the housing bubble. This could burst at any time, sending many overextended American families into deep financial trouble.

There was a recent article quoting financial expert Jim Rogers about this. Excerpts:
...investment guru Jim Rogers stepped into the U.S. subprime fray on Wednesday, predicting a real estate crash that would trigger defaults and spread contagion to emerging markets.

"You can't believe how bad it's going to get before it gets any better," the prominent U.S. fund manager told Reuters by telephone from New York.

"It's going to be a disaster for many people who don't have a clue about what happens when a real estate bubble pops.
See the full article at:

1 comment:

Anonymous said...

You thought subprime was bad? Wait until you see what's next.