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U.S. Housing Boom Slowing

Posted by: Abhijeet Chavan
Thanks to: Abhijeet Chavan
11 March 2003 - 11:00am

The Economist's house-price indices suggest that the U.S. housing boom may be slowing down even as housing markets in some other nations are growing.

"America's boom is already slowing: the average price of a home rose by 7% in the year to December, compared with an 11% gain during 2001...Mr Greenspan acknowledges that there are local hot-spots, but rejects the notion of a national housing bubble, arguing that high transaction costs discourage the buying and selling frenzy seen in financial-market bubbles...He also sees little sign of an over-supply of new homes, which could later cause prices to plummet."

Full Story: Betting the house
Source: The Economist, March 6, 2003
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No matter how one wanted to organize the ideal city, housing security would be part of it. No community can function effectively if large numbers of its residents are regularly displaced or perpetually at risk of being displaced.
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