Home, expensive home

Monday, April 14, 2008

Stream m3u

America is facing a housing crisis, but we're not alone. Overseas, countries such as Ireland and Spain are going through the same pains.

The New York Times' Mark Landler explains how it's partly because of Americans.

Takeaway facts:

  • Ireland's boom lasted 16 years, and residential investment accounts for 12% of the Irish economy. It has the most overvalued market with economists saying prices are 30% higher than they should be.
  • Britain's mortgage debt is higher than in the U.S. and soon could start facing problems, too.

Guest: Mark Landler, European economic correspondent, the New York Times

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