Managers trim exposure to the US housing sector

With slowing gains in real wage growth and interest rates almost as low as they can go, the US hous...

With slowing gains in real wage growth and interest rates almost as low as they can go, the US housing market is showing signs of vulnerability after a good run, says Alex Ingham, head of North American equities at Aberdeen Asset Management. A period of low interest rates, low inventory levels and robust consumer confidence have all supported the housing market but, Ingham says, foreclosure rates are at a record high and he has been trimming down his exposure to the sector as a result. According to Aynsley Lammin, analyst at SchroderSalomonSmithBarney (SSSB), the US housing market cont...