Heather Stewart, economics correspondent
Sunday August 27, 2006
The Observer writes:
The downturn in the US housing market will force businesses to slash 73,000 jobs a month in the new year and could be more damaging to the world economy than the dotcom crash, economists have warned.
After official figures last week showed that the number of new homes sold in July was 22 per cent lower than a year earlier, while prices were almost flat, fears are mounting that the 'orderly' housing slowdown predicted by the Federal Reserve will become a full-blown crash.
Read the complete article at:
Guardian Unlimited Special reports US housing slump fuels crash fears
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