Posted AT 1:23 PM EDT on 20/06/05
Merrill warns of housing bubble
Housing prices in many of the biggest U.S. cities are overheating, laying the groundwork for a dangerous house-of-cards scenario where even a small dip in prices could significantly slow economic growth and hurt profits, according to a report from Merrill Lynch & Co.
"Since more people own a home than a stock, and because so much of the activity is leveraged...
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