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gruffydd

Lib Dems: Housing Market Set To Crash

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http://www.24dash.com/news/1/27588/index.htm

"The Liberal Democrats issued a stark warning to homeowners today that the property market is set to crash.

Deputy leader Vince Cable said a decade of mismanagement by Gordon Brown had led to a "collective madness" around house prices which threatened to derail the economy.

Speaking at the party's conference in Brighton, he lambasted the "professional optimists" who had convinced the public that values could keep going up for ever.

"History tells us that bubbles burst; and every housing boom is followed by a crash whatever the papers say," he insisted.

Mr Cable's intervention came as the panic around troubled bank Northern Rock continued, with customers withdrawing billions of pounds in the wake of the "credit crunch" caused by irresponsible lending."

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http://www.24dash.com/news/1/27588/index.htm

"The Liberal Democrats issued a stark warning to homeowners today that the property market is set to crash.

Deputy leader Vince Cable said a decade of mismanagement by Gordon Brown had led to a "collective madness" around house prices which threatened to derail the economy.

Speaking at the party's conference in Brighton, he lambasted the "professional optimists" who had convinced the public that values could keep going up for ever.

"History tells us that bubbles burst; and every housing boom is followed by a crash whatever the papers say," he insisted.

Mr Cable's intervention came as the panic around troubled bank Northern Rock continued, with customers withdrawing billions of pounds in the wake of the "credit crunch" caused by irresponsible lending."

Well it's not like a political party to pick up a bandwagon and run with it.

If they were so effing clever, where were they 1,2,3,4,5,6 years ago.

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