For more than a year, some economists have predicted the bursting of what they call the housing "bubble." When we first aired this program on May 9--things haven't improved in the meantime, Fortune magazine said the boom was already over. Since then, sales of new homes have fallen and the inventory of unsold homes is at a record high. If prices drop, what's the fate of mortgage-holders with interest-only loans who think their houses are banks? What are the consequences for the economy as a whole?
Is Housing Bubble Losing Air?
Credits
Guests:
- Tom Donlan - Barron's - @barronsonline
- Michael Hudson - University of Missouri at Kansas City
- David Lereah - Chief Economist, National Association of Realtors
- Andrew Laperriere - Managing Director, International Strategy & Investment Group