Wednesday, February 13, 2008
David heard things that Mervyn never said! In fact King said that housing market is at risk from the credit crunch!!!!
This is pure transvesting the truth for the benefit of VIs. King never said "said that house prices should be in for a long period of stability"!!! But in the opening remarks (link posted in Smith's blog) King said: "The impact of tighter credit conditions is apparent in property markets, and is particularly likely to affect investment in commercial and residential property and perhaps business investment more generally"