Monday, September 17, 2007

UK housing market set for a painful correction, Greenspan warns

UK housing market set for a painful correction, Greenspan warns

Mr Greenspan also warns that Britain is more vulnerable to the effects of the credit crunch than the US. "Britain is more exposed than we are - in the sense that you have a good deal more adjustable-rate mortgages," he says, referring to the standard variable rate loans that many households have chosen over fixed-rate deals.

Posted by no room at the inn @ 12:37 AM (666 views)
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