Industry News

A view of the U.S. housing market: It’s raining knives and stones

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Editor's note: The following posting appears on the Inman News Blog. The blog enables readers to comment on postings and respond to other readers leaving comments in real time. Click here to join the discussion stemming from this post. A columnist for MoneyWeek, a financial publication based in London, said the U.S. housing market "is a 'house of cards' (pun intended) that could get much worse before it gets better." D.R. Barton Jr., the columnist and analyst, also stated that "it's tough to find unbiased comments about the market -- especially when almost everyone has a vested interest in a continually rising real estate market." He says this is no ordinary housing boom and bust cycle, citing "two huge mitigating factors": "Not Learning From 1929: Failing to take a lesson from the 1929 stock market crash, regulators have allowed lenders to extend unprecedented leverage to real estate buyers. We have seen what may be only the tip of the iceberg with the problems in the subprime lend...