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House of horrors: Prices Falling in 8 of 16 Measured Countries; Is the US Undervalued?

- Mish - Global Economic Analysis

Thanks again, Mish! Very good article. It never ceases to amaze me, as one who has no formal education in economics, how thin is the analysis put out by those who should have a better grasp on such things. Foreclosure of homes might indeed put a bind on available rentals for a time, until their former vacant homes become part of the pool of rentals. Such things go through a time consuming process that might not be reflected in monthly or quarterly reports. I don't believe the number of households will increase in bad economic times. I believe in an increase in the phenomenon of merging households along with the tendency to house each individual in less space than has become the custom in more prosperous times. People will likely be living with less, either through unemployment, underemployment, higher prices as a result of QE-induced price increases, the appearance of higher interest rates, and surely through a combination of any or all of these. As they adjust their living situations, the resulting shakeout of housing availability will take some time to show how rental and purchase prices of housing actually respond. I believe the glut of available housing, relative to the shrinking budget of the average family will squeeze the prices of housing, though it might be masked nominally by the flood of newly created dollars flowing into the economy.

Thank you, again, Mish, for being a voice to be reckoned with of deeper, more dynamic analytical content that is comprehensive to the common man.

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Beginning of the headline :The bursting of the global housing bubble is only halfway through. MANY of the world’s financial and economic woes since 2008 began with the bursting of the biggest bubble in history. Never before had house... Read More

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