Housing Crisis

Two words being spoken right now in economic circles, especially in the midst of this crisis, are "exit strategy." Most specifically asked is when countries should start adopting exit strategy policies.

There were not many people packed in to the Los Angeles "town hall" meeting who had heard of the foreign woman with the unfamiliar title who had come to listen to their tales of plight. But many took it as a good sign that she had worried the last American government enough for it to keep her out of the country.

HOME buyers are being advised to pause a moment before leaping into the purchase of that dream apartment.

THE APPARENTLY unilateral commitment by banks to try to reach an accommodation with customers who fall into difficulties with the mortgages on their homes is welcome. It goes a step further than the obligation imposed on these institutions by the statutory code of conduct on mortgage arrears, which puts a six-month moratorium on legal action – extended to 12 months in the case of AIB and Bank of Ireland. The requirement by the banks that borrowers must co-operate in trying to find an alternative solution is reasonable.

When the International Monetary Fund finally takes notice, it must be old news. On Tuesday the IMF issued its annual report on Hong Kong, saying that it shared the government’s “concerns that a credit-asset price cycle could take hold, leading to a sharp run-up in prices for certain real and financial assets”.