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As foreclosures add to the glut of unsold homes, house prices will continue to fall.
In meetings here held by the Organization for Economic Cooperation and Development, the Bush administration is pressing countries like Russia, Korea, China and Japan to outline plans for shutting down inefficient factories that add to the glut of unneeded steel.
"But they are unlikely to do so and even if they did so around the world, they would only add to the glut of savings that is the fundamental cause of the problem".
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We keep adding to the glut of parking lots.
Home prices in 20 metropolitan areas fell in November for the 11th consecutive month, as foreclosures and a slump in sales added to the glut of unsold properties.
A further 3.9% were in foreclosure, the legal process that settles defaults and thereby adds to the glut of homes for sale.
It is too plentiful for small economies to spend, and has therefore added to the glut of global saving that is in part responsible for the financial excesses of recent years.
As more subprime borrowers default on loans, foreclosures rise, adding to the glut of homes available for sale.
Boomers selling their fringe housing will only add to the glut.
Giving investors more information, a user's manual to their fund, would just add to the glut, he argued.
The weak economy, which has reduced economic activity, has added to the glut, driving the price of permits, some of which are now auctioned, to nearly zero.
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