Monday, Feb 25, 2008
After years of watching house prices soar even faster than those in America -- modest, three-bedroom tract houses in the London suburbs were going for US$2.2 million at one point -- Britons are now weathering a sharp rise in mortgage defaults
chinapos: Subprime casualties surface in Britain
Europe has its own burgeoning mortgage meltdown -- in Britain.
After years of watching house prices soar even faster than those in America -- modest, three-bedroom tract houses in the London suburbs were going for US$2.2 million at one point -- Britons are now weathering a sharp rise in mortgage defaults.
Posted by chris @ 05:46 PM (241 views) Add Comment
2 Comments
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1. Notlongnow said...
Hasnt this article been pinched from the LA Times??
2. bystander said...
This was posted last week, originally in the Los Angeles Times, but at least the message is getting worldwide coverage - who's for a plate of default and chips and a pint of imminent foreclosure.