Posted: 18 Jul 2014 02:12 AM PDT
Yves
here. This post looks at how little has been done in the wake of the
global financial crisis is instructive because it takes an international
view. The Australian writer, Catherine Cashmore, is particularly
anxious about the failure to address the usually lucky country's
ginormous property bubble, and its not alone in having this problem (cue
the UK, China, and Canada). It the US, although we've had a housing
"recovery" and some markets are looking frothy, the bigger issues are
the squeeze on renters as former homeowners are now leasing and the
stock of rentals is tight in some markets (in part due to destruction of
homes that would have been rentable in the foreclosure process due to
servicer mismanagement and in some markets, due to properties being held
off the market, both by servicers and by landlords who are either in
the process of rehabbing them or have otherwise not leased them up). And
it focuses on the elephant in the room: lousy worker wage growth.http://www.nakedcapitalism.com/2014/07/six-years-global-financial-crisis-learned.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+NakedCapitalism+%28naked+capitalism%29
No comments:
Post a Comment