Business Services Industry
US housing bubble little cause for alarm.
Australasian Business Intelligence, August, 2002
Aug 27, 2002 (The Australian Financial Review - ABIX via COMTEX)
New home sales in the US in July 2002 were up 6.7 per cent, reaching an annual rate of 1.017 million. Over the same period, sales of existing homes rose by 4.5 per cent. While some commentators have expressed concern in recent times that a housing bubble is emerging, others take a more positive view, pointing to the benefits to the US economy. The housing market is being supported by low interest rates and the weakness in equity markets. The president of the St Louis Federal Reserve, William Poole, has indicated that the positive effects of the housing boom offset any concerns about an imbalance in the market.
Publication Date: 28 August 2002
ST LOUIS FEDERAL RESERVE BANK:...
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