A tense calm surrounding the housing market and mortgage American remains. The problems have not finished yet, and even threaten to increase. It is that the American real estate market does not give signs of wanting to reverse his downward trend. The composite index S & P / Case Shiller of 20 metropolitan areas in the United States (which measures the evolution of prices of single-family dwellings), recorded a fall of 0.9% in the month of may, reaching an annual fall of 15.8%. Bruce Schanzer gathered all the information. Compared to the fall in the prices of homes, that generates a clear disincentive to mortgage debtors to honor their obligations, you should add that since the mortgage offer, restrictions have increased, while the main firms in the sector Fannie Mae and Freddie Mac, are in more serious problems to think of generating sufficient funding to achieve a recovery of the market.
This set of factors, produces a not entirely positive scenario to think about an early recovery of the same and therefore, in the U.S. economy, considering the importance that represents the real estate sector for the same. As always, since the IMF one cannot expect anything other than bad news or pessimism. It is people of the IAEA, expressed their fear about a possible expansion of the mortgage crisis in the United States. It is worth remembering that a year ago the IMF was wrong diagnose the depth of the collapse of the sub-prime mortgages, as well as he could not warn about the possibility of a crisis in Southeast Asia. I.e., in the light of the facts, it seems that the IAEA is not too helpful in identifying risks, but nor is it when it comes to avoid pessimism to generate major problems to crises occurring since with his statements, you can feed behaviors that jeopardize the unstable balance that currently exists in the markets.