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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?


To: mishedlo who wrote (20152)1/2/2005 2:58:27 PM
From: Rational  Respond to of 116555
 
This is a great story of localized house price bubble bursting.

Contrast the 1600 sq ft Las Vegas home bought in $600-700K range with 3800 sq ft home with stone front, 3 car garage and double zone heating/cooling for $350K in a good school district 95% White neighborhood in Chicago area.

Yes, house prices in many areas will shrink. I see a lot of danger to commercial banks in USA as well as China. Growth in non-performing assets in Chinese banks is exploding.