Thursday, Oct 18, 2007
Sky News start the panic
Sky News: Will US-Style Housing Slump Hit UK?
The run on the Northern Rock was continually shown to the masses by the media and helped to feed the frenzy.
What is the media doing now?
The International Monetary Fund said the property boom during the past 10 years has left current house prices unsustainable.
It warned homes in Britain could be overpriced by up to 40%, which is more excessive than in the US before its current housing slump.
Everyone will now be calculating what a 40% LOSS will mean to them!
Then panic.
Posted by bnaz @ 06:29 AM (155 views) Add Comment
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