Thursday, Mar 15, 2007
History repeats itself
Market Oracle: Analysis of the last UK Housing Market Crash as today's US Real Estate Meltdown continues
As house prices fall, repossession rates rise. Unless the lenders wake up to their dilemma...
"UK HOUSE PRICES to recover next year," said The Times of London on 17 November, 1989.
Real estate in the United Kingdom had risen three times over on average during the previous 10 years. National prices rose 40% in the last 18 months alone!
But now, suddenly, house prices had stopped rising. When would the good times kick off again?
Posted by krishna @ 11:20 AM (195 views) Add Comment
1 Comment
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1. lvmreader said...
Oh what short memories people have....
Remember its a recession when your neighbour loses his job. It's a depression when you lose yours.