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Title: Global Financial Crisis
Essay Details
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History |
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| Date: |
October 26, 2004 |
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| Length: |
7 / 1732 |
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Essay text:
The drop in real estate and stock prices robs a much larger body of consumers of the wealth effect, which could affect spending on a broader front. In short, the second round effects of the financial crisis will be felt straightaway in the credit-driven activities and sectors, but will spread beyond that in a perhaps slow wave that could take a year or more to die down... Showed first 250 characters
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There is already anecdotal evidence of this in the IT and financial sectors, and reports of quiet downsizing in many other fields as companies cut costs. More than the downsizing itself, which may not involve large numbers, what this implies is a significant drop in new hiring -- and that will change the complexion of the job market... Showed next 250 characters
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article summary
Abstract:
Mortgage market disruptions are causing lenders to raise mortgage rates on prime jumbo loans.
Summary:
The mayhem in the home loan mortgage market is beginning to squeeze high-end home buying consumers with good credit records, in the latest indication of rising unease among investors and mortgage lenders... |
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