Audio – Chicken or Egg?
The age-old question is something our guests have been pondering this week at the Reuters Housing Summit.
Are the pure economics the problem with the housing market right now, or is it just the sour mood the economics have put everyone in? And which created which?
For Richard Syron, chief executive of Freddie Mac, both factors need to take a little of the blame. Syron, one of the featured guests at this year’s summit, said that this is not merely some PR disaster — there are real economic problems in place here and, whether we call it a recession or not, this economy is going to struggle through at least the rest of 2008.
The Reuters Housing Summit continues through Friday in New York, Washington, D.C. and London. Next week, the team takes off for the Windy City for the annual Reuters Manufacturing Summit.