How the roof fell in on America’s property gamblers

An era of buying homes to turn a quick buck has imploded, reports James Doran in New York

The Observer - Sunday October 21, 2007

If you want to know if Britain is heading for a housing market crash, you don’t have to listen to the Cassandras at the IMF - just take a look at what has become of the American market.
To understand the housing crisis across the pond, it is important to understand how US home ownership has been transformed in recent years, and with it the American Dream. Over the past two decades it has become less a means of securing an affordable place to live with the prospect of a solid bricks and mortar investment for your old age and more a means of get-rich-quick speculation - full article