Thursday, June 15, 2006
Freddie Mac's monthly Economic Outlook for June was released last week. In what has become a mantra, the corporations Office of the Chief Economist, quoting Federal Reserve Chairman Bernanke's recent remarks, is predicting an "orderly and moderate cooling of the housing sector."
You say tomato, I say tomatoe! One man's "orderly and moderate cooling" is another's catastophic drop in price! When you have 6-7 months of price declines is that an orderly cooling? For those owners who bought at the top of the market with no money done, their entire house of cards comes tumbling down. As home values continue to decline, depending on your situation and how stretched you are it certainly might become catastrophic.
Labels: Bernanke, cooldown, FederalReserve
¶ Report Attempts To Soothe Housing Bubble Fears
