Monthly Archives: August 2010

An unsupportable American dream

Millions of Americans face foreclosure, the value of their homes below the value of their nominal mortgages.

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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

Why real estate slowdown is ‘most dramatic’ in Canada

Michael Babad

Globe and Mail Update Published on Tuesday, Aug. 10, 2010 10:09AM EDT Last updated on Tuesday, Aug. 10, 2010 5:38PM EDT

http://www.theglobeandmail.com/report-on-business/top-business-stories/why-real-estate-slowdown-is-most-dramatic-in-canada/article1667919/

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