We are in Recession!
Finance July 10th. 2008, 11:09pmWe are now officially in recession although some people said it’s been obvious since a couple of months ago. What can we do? I don’t know. 
Recently, I read the latest report from S&P/Case-Shiller about US home prices. Bespoke has summarize the report in a very nice graph (see below).
I also read a report about UK house price forecast from The Market Oracle (see below). They predicted the housing price in the UK will drop 15% over the next 2 years (minimum). It’s very scary, isn’t it?
How about Canada? Dr. Sherry Cooper from BMO Capital Markets published a prediction about home price in Canada. If you look at the chart below, she is saying that Canadian housing market is two years behind the US counterpart.
