US Recession Watch: Hold onto your Hats!

Thursday, March 27, 2008

by Geoff Riley

The latest Standard & Poor’s/Case-Schiller house price index shows the biggest year-on-year decline in real estate prices for 21 years. Hold onto your hats - US Treasury Secretary Henry Paulson has come out with some very bearish statements on where the US housing market will head before the worst is over.

Two charts took my eye this morning - the first what is happening to house prices and secondly the Conference Board data on consumer confidence shown by age of respondents.

Posted to A2 Macro • Recession Watch! • US Economy
Tags: housing, confidence, property, henry paulson

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