Editeur : New York Times
Date : 29/05/2005
Si un autorisé pouvait déplacer l'article dans la rubrique presse.
Just how big a decline was the I.M.F. looking at?
The I.M.F. compared a 14 percent decline in real housing prices with a 37 percent decline in stock market prices - roughly the same size as the post-2000 stock market fall in the United States. The study's findings suggest that a housing crash could cause twice the damage, and for twice as long, as the last recession in the United States. While such a large decline in housing prices might come as a shock to Americans, the I.M.F. found that similar busts happen every 20 years, on average, in the countries studied.