[lbo-talk] Housing bubble to burst?

Doug Henwood dhenwood at panix.com
Thu Sep 14 09:48:58 PDT 2006


On Sep 14, 2006, at 11:42 AM, James Heartfield wrote:


> The IMF warns Britain that its housing market is overvalued today -
> just as the Citizens' Advice Bureau warns that record numbers of
> younger house-owners risk eviction through missing their mortgage
> re-payments.
>
> My book 'Let's Build! Why we need five million new homes in the
> next 10 years' published later this month, explains why the
> housing boom has not translated into a building boom.
>

It has in the U.S. - new housebuilding has contributed about 12% of GDP growth over the last several years, the highest share on record.

Doug



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