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    Mark Landler / IHT | April 14, 2008

    The collapse of the housing bubble in the United States is mutating into a global phenomenon, with real estate prices down from the Irish countryside and the Spanish coast to Baltic seaports and even in parts of India.

    This synchronized global slowdown, which has become increasingly stark in recent months, is hobbling economic growth worldwide, affecting not just homes, but also jobs.

    In Ireland, Spain, Britain and elsewhere, housing markets that soared over the past decade are falling back to earth. Experts predict that some countries, like Ireland, will face an even more wrenching adjustment than the United States, with the possibility that the downturn could turn into wholesale collapse.

    economic crisis U.S. housing collapse spreads overseas
    economic crisis U.S. housing collapse spreads overseas
    economic crisis U.S. housing collapse spreads overseas

    To some extent, the world’s problems are a result of American contagion. As home financing and credit tighten in response to the crisis that began in the U.S. subprime market, analysts worry that other countries could suffer the mortgage defaults and foreclosures that have afflicted California, Florida and other states.

    Citing the far-flung reverberations from the American housing bust and credit squeeze, the International Monetary Fund cut its forecast Wednesday for global economic growth this year and warned that the malaise could extend into 2009.

    Full article here.

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    Comment Rules

    16 Responses to “U.S. housing collapse spreads overseas”

    1. Perry L Says:
      April 15th, 2008 at 12:35 am

      The “housing crisis” hasn’t spread to other parts of the world…it is a scam that has been perpetrated at the same time i all over the world. The housing bubble is a world wide phenomenon not just a USA thing as the article states real estate has been skyrocketing in various parts of the world (the ones with a middle class in need of subjugation/enslavement) for over a decade…now most of the world’s population is ready for the electronic money system and overt debt enslavement.

      News Flash: It’s been a coordinated effort by the “central bankers” in every country.

    2. Spreadthetruth Says:
      April 15th, 2008 at 1:21 am

      Yes were are all trapped in the debt system, these bankers trully are evil. I personally know who runs the federal reserve…… It can only be the red man with horns and goats feet

    3. Chegow Says:
      April 15th, 2008 at 7:01 am

      Mr. Tumness?

    4. Big Fish Ireland Says:
      April 15th, 2008 at 9:11 am

      The Housing crisis is no scam in Ireland. The housing market is in total collapse, we have a glut of houses, prices have already fallen 20-25% in 6-9 months. There are very few houses selling, and everywhere , everybody is totally depressed about this situation. One friend bought a house last year for £230,000 , today it is worth £160,000 , this is just an example of the situation.

      Haulage companies are quitting everyday, food is rapidly rising, fuel is £1.20 a litre .

      Not good folks

    5. syzygy556 Says:
      April 15th, 2008 at 10:35 am

      actually the housing crisis came about because after the tech bubble burst there should have been a deeper recession than there was. So they needed to create another bubble which was the housing bubble. This created the “good economy” for about four years. With all our money going to iraq coupled with the tax cuts for the rich, it seems like our criminal leaders are out of ideas.

      So now they just control the news, because I am sure the economic situation is more dire than they are letting on. so were screwed. of course the rich people could wait it out for the next bubble to arrive.

      this quote says it all

      “America is great because she is good. If America ceases to be good, America will cease to be great.”

      Alexis Charles Henri Clérel de Tocqueville

    6. Aaron Williams Says:
      April 15th, 2008 at 10:40 am

      Here in this part of Maryland, they dragged the suburbs out into the rural communities, never bothering to upgrade roads, water or sewage, pretty much no public works besides more cops, horrendously overpriced cookie cutter, side by side housing developments that have destroyed the environment, destroyed precious farmland, and drove out the natural order. They say we’re backwards, I’ve never seen an honest ounce of individuality or independent spirit come out of these strip mall tombs, and commuter yuppies. They consume and pat each other on the back. Scared to death of a bug or critter, much less neighbors that hate their narcissistic gluttony. All those smarts and education and all their capable of is being scared, that’s all their children will be. As far as I’m concerned these people are New World Order consumer globalists and not Americans.

    7. antieveryone Says:
      April 15th, 2008 at 11:33 am

      look if you cant admit you cant afford a home, then you dont belong in one. Because A:(like me :P ) you cannot afford one yet. And B: The king of england and his idealism won in the end, if you dont like it?? START TO CHANGE IT! PROTESTING DOES LITTLE BUT MAKE THE LEADERS MOCK YOU MORE STATEHOUSES, COURTHOUSES< FORCE THE ISSUE PEOPLE.

      SAME WITH ALL OTHER ISSUES FIGHT FOR YOUR RIGHT TO PARTY WORLD! THE SLAVEOWNERS ARE LAME BORING HATEFUL BASTARDS WHO MUST ONE DAY FIND THERE END SOMEWHERE> LOLOLOL

    8. MICHAEL Says:
      April 15th, 2008 at 1:46 pm

      And they say we are not on the verge of a world depression.

    9. Buck Johnson Says:
      April 15th, 2008 at 3:27 pm

      We are in for a depression and it will definitely hit the rest of the planet.

    10. Perry L Says:
      April 15th, 2008 at 6:18 pm

      The whole idea in these bubbles and depressions is to transfer wealth from the middle/upper-middle classes to the elites. The specific purpose of this bubble was to not only extract our wealth (property) but to bury us in unrecoverable debt. This will be the last bubble ever since the elites have accomplished their goal of creating a de-facto feudal worldwide state. Notice the “housing crisis” is worst in the countries that had viable economic engines and an established middle class (USA, Spain, Ireland. Greece etc.). All of the people most dangerous to the NWO elites are now debt slaves. The coming depression will help to accomplish the next phase of the plan (population reduction) by starving large numbers of people. Indeed the 4 horseman are kicking at their starting gates.

    11. Rev. Reggie Jackson Says:
      April 15th, 2008 at 8:05 pm

      Ofcourse it is spreading overseas!! They don’t want to leave one nation left behind in their globalist scheme of total world domination and enslavement. But in the end; they will lose and in the end; the true perfect world will emerge as they will be defeated by those who have unlimited power!!!

    12. Anthony J. D΄Angelo Says:
      April 15th, 2008 at 11:11 pm

      Treasure your relationships, not your possessions.

    13. veritas Says:
      April 15th, 2008 at 11:18 pm

      The rich ruleth over the poor and the borrower is servant to him that lendeth.

    14. Oscar Wilde Says:
      April 15th, 2008 at 11:42 pm

      I suppose that I shall have to die beyond my means.

    15. Porky pig Says:
      April 16th, 2008 at 5:49 am

      …Ah-bdi…The only real…bdi… gain or loss is spiritual ,…b…bdi… but it helps to keep one’s Karma clean , and the people…ah-bdi…bdi… profiteering from all this are going to…bdi… suck on it !!!

    16. Flexible Mortgage Dave Says:
      April 19th, 2008 at 6:31 am

      Poor control in the sub-prime market leaving dubious brokers to sell ill-afforded products to buyers who knew they couldn’t afford has made a big, big mess. If a drop in house prices forces focus on this and regulation is tightened up considerably it may just be a blip in the housing market. Here in the UK anyway.