Tuesday, June 24, 2008
Now will the sheeple stop buying houses??
Two thirds of Britons own their homes, putting millions at risk of negative equity -- when the house value falls below its mortgage -- if house prices crumble. However, that may be a way off yet, given that prices trebled over the last decade. TOUGH TIMES While soaring commodity prices across the globe have forced inflation to the top of the political agenda and convinced financial markets that interest rates are heading higher, most economists expect rates will eventually have to fall.