The collapse of US economy was caused by wrong spending of US government in armed forces which affect their surplus fund - where their wrong RE regulations are highly dependent on.
The result is a domino-effect.
Plus, naay huhungihung...
(there's some sabotage in US economy caused by some wealthy Middle-Eastern businessmen who have done a synchronous withdrawal of their money in US banks. In effect, a paralyzed economy)
If I were them, i will still invest in RE..but in different market.
The Philippine banks are mostly investing in RE, ngano wala man sila ni collapse?
Its because of the strict policies we have here regarding loans.
Can't we see those high skyscrapers sprouting everywhere in central Cebu?
Not to count more than 50 sprawling developments in the countryside.
Who financed them? Mostly the banks. The bank where we put our sleeping money.