NEW YORK (CNNMoney.com) -- The nation's financial system is in the midst of a massive shakeup and many on Wall Street and in Washington are pointing fingers and looking for someone to blame.
But in the end, it all comes back to one issue - housing.
Earlier this decade, it was much easier to get a mortgage. Home prices soared about 85% from 1996 through 2006 in inflation-adjusted dollars, creating a bubble.
Then the bubble popped. And the fallout isn't over yet, experts say.
Todo el artículo acá, tomado de CNN money.
Housing Starts at 17-Year Low in August
By THE ASSOCIATED PRESS
Published: September 17, 2008
WASHINGTON — Government data show construction of new homes and apartments fell by a larger-than-expected amount in August, pushing activity to the lowest level in 17 years.
The data illustrate the country remains in the grips of a severe housing downturn that has triggered billions of dollars of losses and is reshaping the structure of American finance institutions.
The Commerce Department reported Wednesday that housing construction dropped 6.2 percent last month to a seasonally adjusted annual rate of 895,000 units. That’s the slowest building pace since January 1991, another period when housing was going through a painful correction.
The decline is larger than the 1.6 percent drop analysts expected and showed weakness in all the country except the West.
Todo el artículo acá, tomado del New York Times.
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En la imágen observamos el cierre de mercado de las principales bolsas del mundo. Todas, menos el Nikkei 225 cerreron con bajas considerables el día de hoy. Continua el colapso financiero... el hundimiento del barco... brasileñas y traders primerooo!!!
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chistes
-Q: How many investors does it take to change a light bulb?
A: None - the market has already discounted the change.
-Grow your own dope -- plant an economist.
-Economics is to be found in the library -- beyond fiction.
-We have 2 classes of forecasters: Those who don't know . . . and those who don't know they don't know.
-An economist is an expert who will know tomorrow why the things he predicted yesterday didn't happen today.
-How can you tell when an economist is lying? His lips are moving.
-They say that Christopher Columbus was the first economist. When he left to discover America, he didn't know where he was going. When he got there he didn't know where he was. And it was all done on a government grant.
