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Nesgroup address: misc.invest.real-estate - Date & Time for the message: Tue, 21 Jun 2005 21:12:08 GMT /

Author of the message: user@127.0.0.1

Title of the message:
FYI: U.S. housing bubble may pop

Text of the message:
Economists warn of slowdown in the economy by year's end
By Dean Calbreath
UNION-TRIBUNE STAFF WRITER
June 21, 2005
   * Report: Housing market at risk
By the end of the year, America's bubbling housing prices will likely
flatten or pop, causing an economic slowdown, economists warned in a
flurry of reports yesterday and today.
Red flags issued by such diverse sources as the Merrill Lynch
investment firm, the University of Maryland and the UCLA Anderson
Forecast warn that a stumble in housing prices could take a major bite
out of economic growth, damaging the already weak job market.
Rising housing prices, as witnessed in Chula Vista and throughout the
county, have been a key engine of the economy, with refinancings and
home equity loans fueling retail sales and construction activity.
Other signs of economic trouble also loomed yesterday. The price of
oil surged to a 20-year high of almost $60 a barrel and the nation's



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