Utterly Meaningless » Blog Archive » HORROR FLICK

    Filed at 3:46 pm under by dcobranchi

    On this 25th anniversary of the release of Michael Jackson’s “Thriiler,” economist Paul Krugman tells a real horror story– his predictions for how the housing bubble deflates. The talk runs about 50 minutes with an additional 20 minutes of Q&A.

    And for the folks who always skip ahead to the last chapter– he figures a 30% decline in housing prices nationwide (50% in the most “bubblicious” markets) lasting well into the next decade.

    One Response to “HORROR FLICK”

    Comment by
    December 21st, 2007
    at 7:33 am

    Here I am in Atlantic Canada and I’m feeling the effects of this. Between the troubled real estate market down there and the high Canadian dollar (which itself is related to troubles in the US) lumber mills that ship wood to the US are shutting down left and right. Communities are finding out their major employer is closing the door right before Christmas and I’m just hoping the mill my nextdoor neighbours work at which is down to just one shift, can manage to hold on for thier sake.

    It’s been disastrous for people here.