Despite the speculative doom and gloom, economists believe a fiscal cliff-spurred recession would not spark the kind of home price-hemorrhaging witnessed when the housing bubble burst five years ago.
Compounding the fiscal cliff threatening renewed recession in the short term is the even bigger issue of the long term fiscal and sovereign debt crisis, threatening long term stagnation and decline.
U.S. investors are also buyers, focused in part on the European issues but even more-so on the fiscal cliff and potential for another recession, Brooks continued.