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The Forum > Article Comments > When housing hijacks an economy > Comments

When housing hijacks an economy : Comments

By Dan Denning, published 1/12/2010

Banks want to give lenders a lean over deposits to prop-up housing. How safe is 'money in the bank'?

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Yessir, I believe that you are right, that you are part of the problem as much as I am. Yessir the 'Peace' we think we have is war, a big deep war, an economic war, like all wars. A war that will see us, all of us, out.

Good bye and no farewell.
Posted by skeptic, Thursday, 2 December 2010 1:08:29 AM
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Good article Dan.30% of our mortgage money is borrowed from foreign banks.We are borrowing from OS banks to buy our own land.This derivative bubble has not burst yet.Our properites are 40% over valued.

A disaster can happen here too.We have no manufacturing to fall back on if China uses other suppliers for resources.Our economy is very fragile.
Posted by Arjay, Thursday, 2 December 2010 7:02:53 AM
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You'd think the author would know the difference between "lean" and "lien", wouldn't you? Look at the subtext to article title. I had to look twice...

I think that housing prices in this country are scarey. Not only are they unaffordable, but if there's a "bubble burst" like Ireland's, ours would be far worse, since house prices are so ridiculously inflated, owners are so highly in debt, and we have a larger population both in homeowner and absolute terms.
Posted by viking13, Thursday, 2 December 2010 8:20:33 AM
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