Saturday, Aug 09, 2008
It's Not That Bad, Things Could Be Worse
International Heral Tribune: Britain's housing bust is bringing down the economy
Repossessions, bankruptcies and unemployment are still at relative lows however many economists are predicting that the situation will sharply deteriorate over the next six months, leaving Britain to face a longer, more painful downturn than the United States.
Posted by yoyo1 @ 07:20 PM (545 views) Add Comment
5 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. Eternal Sceptic said...
I do not think you need to be an economist to see the obvious.
Study of the rock type fubarite will foretell the immediate future.
2. Yoss said...
"Pre funded" deposit insurance in the USA, opposed to "Post Funded" one in the UK....Doesn't take a genius to join the dots.
Post funded scheme that will put massive stress on already overstreached banks, hence why we nationalise em.. No choice...There is a big bill to be picked up at the end of this, and bet your a*** Mr Applegarth isn't picking up the tab.
3. mark wadsworth said...
We keep reading articles that says what a mess the USA are in, remembering that their HPC started a year or so before ours. But if you look at the house-price-to-income-chart, their latest bubble was quite modest compared to ours, I can only conclude that our HPC is going to be pretty memorable in one way or another.
4. layers said...
I believe the real crash will come when businesses start failing en masse due to the lack of credit, which will in turn create massive unemployment, and repos will go through the roof. Still the government will then have huge stock for social housing at a massive discount thanks to the general populace - talk about a transference of wealth!
5. alan said...
The UK published statistics lag todays events by many months. The 2nd quarter of 2008 is April to June. Whilst we are looking forward to September and the rest of 2008.
Mark points out that we are behind the USA in our house price correction. Our friends out there tell us that repossessions are running high out there and the prognosis is that we will follow on.