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Roubini sees another ‘disaster’ if house prices drop

Posted on 03 November 2010

From Financialpost.com: Nouriel Roubini, the New York University professor who predicted the global financial crisis, said another “disaster” will happen if U.S. house prices fall again and prime mortgage defaults increase.
“If house prices are going to fall another 5% to 10%, another eight million households are going to be in negative equity,” Mr. Roubini said on Tuesday at a conference in Cape Town. “We are going to have another nasty crisis. That’s going to happen unless we do something about it. Forget about subprime, look at prime.”………………………………………Full Article: Source

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