Sunday, Sep 23, 2007
Can houseprices survive 18months+ of credit crunch?!
Independent: City stars warn of months of turmoil ahead
Leading City figures have warned the credit crunch, which last week prompted Britain's first bank-run for 140 years, could continue for another 18 months.
Posted by planning4acrash @ 04:13 AM (227 views) Add Comment
2 Comments
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1. Houseoflords said...
"In the US, Morgan Stanley, Lehman Brothers and Bear Stearns have collectively been forced to write down more than $2bn (£1bn) of mortgage and leveraged loan assets."
If that's the extent of the problem it's not even worth mentioning. Has the journalist any idea what they're talking about? The bonus pool for these three will be probably $20 billion.
2. su said...
18 months is a very long time. Can I assume that by the end of 18 months:
a) property should be affordable for most people earning an average wage
b) mortgage lenders will have a natural aversion to 100%+ mortgages
c) thorough checks made on all loan applications
d) secondary school pupils are taught basic finance skills
e) we'll have a different government
OK, maybe I'm rushing things, but 18 months of credit crunch is a good start!