Thursday, Oct 18, 2007
Chancellor's Passing the Buck
Dail Mail: Chancellor's warning to homeowners as IMF predicts devastating crash
The Chancellor rebuked mortgage lenders yesterday for fuelling an 'unsustainable' boom in house prices.
In an exclusive interview with the Daily Mail, Alistair Darling said banks and building societies must be more responsible with their lending.
Predicting a 'slowdown' in the property market, he urged them to be more cautious about how much they lend and take more account of whether the borrower is able to pay back the loan.
'An unsustainable house price inflation is not good for individuals, is not good for the economy, so I think it will slow down,' he said.
In contrast to the IMF, the Chancellor is hopeful that even if house prices start to slow or even fall, we are not heading for an early 1990s style crash.
Posted by i should of banked it @ 09:03 AM (174 views) Add Comment
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