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Millions of Americans face foreclosure, the value of their homes below the value of their nominal mortgages.
Terence Corcoran, Financial Post · Tuesday, Aug. 24, 2010
One of the great paradoxes of the U.S. economy is how something as personal and individualistic as home ownership — a core value at the heart of the American dream — could have been turned into one of the world’s biggest socialist disasters. Continue reading
Globe and Mail Update Published on Tuesday, Aug. 10, 2010 10:09AM EDT Last updated on Tuesday, Aug. 10, 2010 5:38PM EDT
Canada’s housing slowdown ‘most dramatic’
The recent slowdown in Canada’s real estate market is the “most dramatic” of a general global softening, Bank of Nova Scotia said today. While Canada and Australia led a post-recession surge as world housing markets entered 2010, activity seems to have cooled again amid softer demand and prices that came with moderating economic growth, financial market turmoil and a sluggish rebound in labour markets, economist Adrienne Warren said in a new report. Continue reading