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US: Housing may not return to 2005 high, says Stein

Posted on 06 December 2010

From Fundstrategy.co.uk: American house prices may never recover to their 2005 level, according to Gabriel Stein, the chief international economist at Lombard Street Research. Stein says that five years after it peaked the housing market remains weak and on some measures house prices have further to fall.
“Until households have managed to bring their debt burden to a level they can live with - and this is far from the case yet - they cannot take on more debt,” says Stein……………………………………….Full Article: Source


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