Saturday, April 12, 2008
It’s different here
Darling: We will not face homes slump like America
Britain will not follow America into a housing crash, the Chancellor of the Exchequer, Alistair Darling, predicted yesterday. Speaking to an audience in Washington before the G7 meeting, Mr Darling said that while the world was facing "the biggest economic shock since the Great Depression", the fundamentals of the British economy were "sound". There "were key differences between the UK and United States housing markets which mean that the UK housing market is unlikely to experience problems in the way that the property market in the US has been affected", he said.
Posted by little professor @ 09:32 AM (654 views)
10 thoughts on “It’s different here”
Add a comment
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
Orwell says:
Britain will not follow America into a housing crash, the Chancellor of the Exchequer, Alistair Darling, predicted yesterday…
Brave or contemptuous ? I know not which…
Bananasplit says:
No houseprice crash ! The banks are going to return to lending excessively with no regard to affordability………I don’t think so.
C'mon Correction says:
The guy is an idiot. Just like his boss.
paul says:
As the article says, it’s just a prediction, and we all know how how quickly they can be “revised”.
Bubbles. . . . says:
Differences between USA & English housing market.
USA United Kingdom
1) property prices 30-50% over valued 1) Propery prices 30 – 50% overvalued
2) Financiers lost sight of value and gaurantees for 2) Ditto
mortgages and created pass the parcel toxic
loans.
3) Judgement Day! 3) Ditto
4) If politicians hot air could buy houses we would 4) Ditto
have no problems
5) Ben Bernake the US financial and Depression 5) Alistair Darling is confident that an economy based
on massive government borrowing, massive balance of trade
expert is a worried man! defecits, and excessive house price inflation can face the world
with a smile!
Thats alright then we will all go back to sleep
6) At least America are trying to face facts 6) See above.
Sneaker says:
We won’t face a homes slump like America. Of course not, because ours will be even worse.
Well I hope not, and I am not wishing it, but I fear it.
indiablue19 says:
Maybe he didn’t mean we “won’t face” a housing market collapse but that we “won’t face up” to the housing market collapse. A playful economy with words perhaps, in keeping with the rest of the comedy of errors. Meanwhile, how does any nation in a global economy emerge unscathed from something more drastic than the Depression of the 1930s? I wonder which if his faces he shaves first when he gets up in the morning?
mark wadsworth says:
The Badger is very quiet about the fact that commercial property values have fallen by 16% since last summer.
inbreda says:
…..unlikely to experience problems in the way that the property market in the US has been affected”, he said.
Yeah, just, like ‘cos, yeah, ‘cos uverwise, right, it just would be stoopid.
Bubbles. . . . says:
What world does he live in????????????