Mar 28, 2013
Forex Flash: Housing busts hold sweeping macroeconomic consequences in US and EU – Goldman Sachs
Housing busts have long-lasting macroeconomic consequences. According to the Economics Research Team at Goldman Sachs, “The subdued and sub-par economic recovery in the US, the recurrent crises in the Euro area periphery and even the current troubles in Cyprus are, in some way, shape or form, related to the preceding housing busts. And in some places such as Spain, Greece and Italy, in particular these housing busts may still be ongoing.”
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