Economists, Federal Reserve Argue Over 'Housing Bubble'

A new report from HSBC says American housing is overvalued and could lead to a 'hard landing' in 2005.
June 28, 2004, 6am PDT | Jeffrey Goodman
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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.

Thanks to Jeffrey Goodman

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Published on Friday, June 25, 2004 in USA Today
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