The economy: A faint sound of applause


The Economist: Full print edition The economy: A faint sound of applause Some signs suggest that the recession is lifting, but the path to recovery is fraught with danger
THE current recession has broken many of the rules of business cycles, but not this one: when something gets cheap enough, buyers emerge. America’s housing bubble seems mostly deflated. According to the SP/Case-Shiller 20-city index, house prices through January were down 29% from their all-time peak. Relative to incomes, houses are now 10% undervalued, and relative to rents they are fairly valued, thinks Paul Dales of Capital Economics, a consultancy. …
   …………………………………………………… http://feedproxy.google.com/~r/economist/full_print_edition/~3/eV5DZvf28-U/story01.htm

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