Housing sector challenges in the US, Canada, and Denmark
A proposal from Greece to its creditors, hoping to end a standoff over the country’s bailout program, was quickly dismissed. European officials said on Wednesday that the proposal offered didn’t go far enough to meet creditors’ demands and they say it’s incumbent on Athens to deliver something else. Greece is quickly running out of money and needs to reach a deal on cash for reforms with its creditors, to avoid defaulting on its debt at the end of the month. Boom Bust’s Ameera David weighs in.
Ameera then sits down with Cullen Roche – founder of the Orcam Financial Group and author of “Pragmatic Capitalism: What Every Investor Needs to Know About Money and Finance.” Cullen gives us his take on soft retail sales reports and tells us what he makes of a poll that shows 61 percent of Americans still believe they are “in the middle” of a housing crisis.
After the break, Bianca Facchinei takes a look at the job cuts announced by HSBC on Tuesday. Europe’s largest bank will be shrinking their workforce, cutting 50,000 of their 250,000 positions, by the end of 2017.
Ameera is joined by Boom Bust’s Erin Ade to discuss President Bill Clinton’s 1995 national homeownership campaign. Jean and Jim Mikitz introduced President Clinton's housing strategy in June 1995 and by 2004 their story ended in foreclosure.
And in The Big Deal, Ameera and Edward Harrison discuss elections in Denmark and Canada’s economy. The theme tying those two economies together is high levels of mortgage and household debt.
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