Rat and Mouse
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UK sub-prime warning

Anybody who's been following the US property market crisis will be familiar with the fact that the "sub-prime" mortgage market (lending to borrowers with less-than-ideal credit ratings) has taken the brunt. Yesterday, credit rating agency Standard & Poor described our own sub-prime market as "showing stress". More here.

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Comments

Nothing will happen here until prices start falling. It's falling prices in the US that triggered all this chaos in the first place. If prices start to fall here, expect the exact same chaos.

Posted by Tom at April 5, 2007 1:08 PM


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