As I have mentioned in previous posts, the housing bubble was an international phenomenon. As a result, the U.S. subprime meltdown is indeed spreading beyond this limited sector. In the US, expect Alt-A and prime mortgages to feel the pain as the economy suffers recession. However, I would like to turn the focus to areas beyond the US.
The markets that I will increasingly look to are Ireland, Spain, Canada and Germany. I will look to reporting from domestic sources in those markets, so I apologize in advance if some of the article links are in Spanish or German. However, I feel one can get a more accurate picture of what is happening on the ground by looking at domestic sources.
As time permits, I may be able to investigate other markets. My focus will be on the prospect for credit-infected economic changes and any conclusions I can draw from those changes.
Happy Sunday.