Friday, September 19, 2003

IMF predicts housing bubble will burst: "Outlining the latest forecasts, a senior IMF official, Kenneth Rogoff, said: "Even greater risks are posed by the significant possibility of a housing price bust in some countries, especially as historically low interest rates pick up." Everyone knows that it is coming, but it cannot be described accurately and truthfully. It is not 'housing', 'asset prices' or 'property', it is very specifically land values and nothing else.

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