The consumer confidence index fell to 105.0 in August from a revised 111.9 in July, which was a cyclical high, the private economic research group said. » Confidence falls sharply in August – Drop biggest since Sept. ’05 – Market Watch, August 28th 2007
Last night, the Case-Shiller index showed US house prices fell at a faster rate in the 2nd quarter. It marks the largest decline in house prices year on year in the 20 year history of the index. » Home prices fall record 3.2% nationally – Market Watch, 28th Aug 2007.
With fears of a credit crunch coming to haunt the economy, the Australian All Ords fell 311 points or 5.4% during trade yesterday, only to make a good recovery in the afternoon. With records for the biggest fall since Sept 11th broken several times in the past month, yesterdays fall …
These days it seems everyday is another big fall caused by sub prime worries and the impending credit crunch. The Australian All Ordinaries Index fell another 2.75% or 181 points today to 5,801, lead by big falls in the US markets overnight. The Dow Jones fell 207.6 points to 13,028 …
THE Federal Reserve Chairman, Ben Bernanke, was wrong.So were the US Treasury Secretary, Henry Paulson, and the chief executive officer of Merrill Lynch & Co, Stanley O’Neal. The subprime mortgage industry’s problems were contained, they all said. It turns out that the turmoil was contagious. » All the experts were …
The Australian Stock Market took the lead from Global Markets and with the S&P200 plunging 3.7%, the biggest one day fall since 7/11. “Cash is king at present, with the market continuing to respond very directly to offshore volatility as the fall-out from sub-prime credit crisis spreads,” MFS chief executive …
In the lead up to the last federal election, one of Prime Minister Howard’s slogans was Keeping Interest Rates low. Since then rates have risen 5 times. Today the RBA increased interest rates 0.25 per cent to 6.50. But does Interest Rates really matter, or is the actual size of …
What will come as no surprise to many, the Urban Development Institute of Australia says a report it just released shows housing affordability has worsened dramatically in recent years. It charts the affordability in 70 centers in Australia. In 2001, 96 percent of those centres were considered affordable, today it …
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