Wednesday, January 2, 2008

What do you call a big problem? – “The Titanic”

Property loan defaults 'set to surge'

"Bad debts from loans to non-listed commercial and residential developers could increase as much as 50% this year as property markets continue to struggle, according to property consultants EC Harris." "Meanwhile, UK bank lending to commercial property represents roughly 11% of all lending, equal to the proportion in 1989, just before the last crash." Watch out for that iceberg ... it's getting tooooo cloossseeee ... crunch ...

Posted by fahrenheit451 @ 03:29 PM (371 views)
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