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Housing Crisis To Worsen PDF Print E-mail
Tuesday, 09 October 2007

The U.S. subprime crisis is likely to get worse, dragging down U.S. economic growth, the chief economist of Standard & Poor's said Tuesday.

The panic has subsided but
the housing market has not hit bottom yet. It will not hit bottom until winter. Housing prices won't hit bottom until next summer and the losses won't peak for another two years, until 2009," said David Wyss at a press briefing in Mumbai. "We are not halfway through this crisis yet."

Houston Chronicle Article

Terry Platt
About the author:

Publisher and Editor, The Rep Report

President, Gulf Thunder Corporation

Member, Digital Field Services, LLC 
 
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