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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (23723)	10/9/2007 9:50:25 AM
From: elmatador	Read Replies (2) \| Respond to of 217654

housing slowdown will not end until 2009 Subprime Until 2009? by Jeffrey Cane Oct 9 2007 Standard & Poor's says housing has yet to hit bottom. Standard & Poor's is forecasting that the housing slowdown will not end until 2009 and that it will be a drag on the U.S. economy, Reuters reports "We think in the United States the housing market is not going to bottom until winter," David Wyss, the chief economist for S.&P. told a conference in Mumbai, according to Reuters. “We think the losses in these sectors won't really hit their peak until 2009." The ratings agency also estimates credit losses from the crisis in subprime mortgage lending at $150 billion. While that is a huge number it represents less than 1 percent of the $16 trillion United States mortgage market. S.&P. expects the U.S. economy to grow at a pace of 2 percent in 2007 and 2008, lagging the global economy, which is forecast to grow at 3.6 percent and 3.5 percent in 2007 and 2008, respectively.