Monday, April 28, 2008

When housing markets clear, so will the credit markets

Peter Bernstein, author of "Against the Gods" opines on the financial and housing markets.

WSJ: What kind of indications are you looking for as signs that the economy is about to get better and that the stock market and the investment world are about to turn the corner?

Mr. Bernstein: Somehow, the housing trouble has to at least flatten out. As long as that is going on, I think the pressure on the credit system is going to persist. It is kind of the leading indicator. It is where the trouble started.

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