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Hovnanian Enterprises Inc. Message Board

  • Stocksystm Stocksystm Nov 26, 2003 8:09 PM Flag

    Rates Must Rise...Housing Crash

    Rates must rise, warns OECD
    By Sid Marris
    27nov03
    BORROWERS should prepare for interest rates to rise by a further one percentage point and builders to face a market crash, according to the Organisation for Economic Co-operation and Development.

    The OECD has expressed real concern that nations such as Australia, the US and Britain remain highly indebted and may suffer "large wealth losses, especially in the housing sector, should interest rates increase abruptly".

    More:

    www.thesundaymail.news.com.au/common/story_page/0,5936,7991392%255E421,00.html

 
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