Two news articles, exploring the European debt crisis, China’s looming economic slow down and effects on the US economy, surfaced today on CNN Money. Both articles draw a clear connection between global and domestic financial performance.
If the economic recession continues to work its way around the globe like a pandemic, then China is already 2-3 months into an 18-20 month “recession”. This will inevitably create a drag on the greater and broader global economy, the US real estate market and even home values here in Anaheim Hills, North OC.
My hunch is that we are already past the worst of the Europe’s recession and that China’s slow down will indirectly drag local Anaheim Hills home values down another 2 – 3 percent by year’s end.
Here are the CNN Money news articles: