There has been much written over the past few weeks about the likely fallout from what’s been occurring in the United States. And some economists even feel it might be on the brink of recession.
The week, their Federal Reserve sought to address the immediate affects of the housing slump and the sub-prime crisis — by reducing US interest rates by 50 basis points.
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In an “earlier posting”:https://commercialpropertymadeeasy.com/2007/06/26/family-finances-are-being-stretched/, I raised concern over the dramatic increase in household debt — to the point where it now sits at over 150% of household disposable incomes.
As you can appreciate, the major concern has been as to how rising home-mortgage interest rates might cause a flow-on effect for Commercial investors. And this is because a fall in residential prices could adversely impact upon the security for any line-of-credit you may have against your home.
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Imagine you have just walked into a room of 22 unrelated people, whom you’ve never met before.
Then, someone poses the question:
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Every six months, you’ll find Rider Levett Bucknall publish their “Oceania Construction Cost Commentary”. In this posting, you’ll find an extract from their July 2007 publication — which covers both the Australian and New Zealand markets.
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