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SA’s property market: A disaster waiting to happen?

Posted on 09 November 2010

From Moneyweb.co.za: Former Federal Reserve Chairman Alan Greenspan put great faith in the wisdom of markets. Unfortunately, such confidence extended to the banking industry’s self regulation ability which proved severely misplaced as bankers played a lead role in distorting housing prices.
Yet Greenspan’s belief that market assessments exceed and precede the wisdom of individual participants is now being vindicated. The housing price implications of an overpriced currency coupled with the declining competitiveness of US workers are only now being fully appreciated by analysts, investors and policymakers……………………………………….Full Article: Source


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