Monday, February 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

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 (586 views)
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2 thoughts on “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

  • Hasnt this article been pinched from the LA Times??

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  • 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.

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