IMF Says End of U.S. Housing Slump `Not Visible'

Started by stevejhx

almost 18 years ago

Posts: 12656

Member since: Feb 2008

Discussion about

uly 28 (Bloomberg) -- The International Monetary Fund said there's no end in sight to the U.S. housing recession and warned that deteriorating credit conditions for consumers and banks may prolong a period of slow economic growth. ``At the moment, a bottom for the housing market is not visible,'' the IMF said in its Global Financial Stability Report, released today in Washington. ``Stemming the decline in the U.S. housing market is necessary for market stabilization as this would help both households and financial institutions to recover.'' http://www.bloomberg.com/apps/news?pid=20601087&sid=ao8IfKzWFWwQ&refer=home

Response by EddieWilson

almost 18 years ago

Posts: 1112

Member since: Feb 2008

But Cramer and SneakyPete said buy!

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Response by stevejhx

almost 18 years ago

Posts: 12656

Member since: Feb 2008

Cramer said buy financials (he was wrong as usual), Sneaky said that the credit crunch was over and that it didn't affect Manhattan real estate and he was, therefore, "banging his wife" (a direct quote).

He also said he has a chauffeur-drive Prius and lives next to Celine Dion, so there you go.

Thus far his cred's high.

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Response by TwoFacedLiar

almost 18 years ago

Posts: 44

Member since: Jul 2008

International Monetary Fund ... reliable source about NYC real estate.

Might as well go visit the United Nations next time there is a fire instead of calling 911.

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Response by EddieWilson

almost 18 years ago

Posts: 1112

Member since: Feb 2008

Yes, better for us to listen to the brokers (apparently the only ones left not saying we're in a major decline)... except for UrbanDigs, that is...

IMF Says End of U.S. Housing Slump `Not Visible'

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