Housing market boost to US consumer confidence

Despite rising unemployment, US consumer confidence should hold up over the coming months because of the buoyant housing market, according to investment manager at Britannic Asset Management, Alison Wright. 'People assume that falling equity markets, such as we have seen in the US this year, automatically lead to weaker consumer confidence,' she says. 'While around 40% of Americans do have stock market interests, more than 90% of the population has real estate as their most significant asset. 'With house prices rising by 8% this year, stock market problems have therefore...