A US house price washout

Barack Obama's foreclosure settlement with US banks may be intended to boost the property market, but more likely it will drag prices even lower as the banks resume repossessions.

US investors heaved a sigh of relief overnight, as the Obama administration unveiled a major $25 billion settlement with five major home lenders over foreclosure abuses that occurred after the housing bubble collapsed.


SMS Code Sent…

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to activate your membership

If you didn't receive SMS code please

Log in to access this content

Looks you are already a member. Please enter your password to proceed

Hi {{ user.FirstName }}

Verify your mobile number to unlock a FREE trial

Looks like you've already taken a free trial

Please sign up for full access

Updating information

Please wait ...

Related Articles