Economists, Federal Reserve Argue Over 'Housing Bubble'

Posted by: Jeffrey Goodman
Thanks to: Jeffrey Goodman

28 June 2004 - 6:00am

A new report from HSBC says American housing is overvalued and could lead to a 'hard landing' in 2005.

While the Federal Reserve claims the rapid increase in home prices is a result of "increases in personal income and declines in nominal interest rates," HSBC thinks that with rising interest rates, a reassessment of future risk will trigger an industry-wide depression.

Full Story: HSBC, unlike Fed, sees U.S. housing bubble

Source: USA Today, June 25, 2004

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Read the full article, written by Michael Dudley.