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Thursday, August 28, 2008

House prices down (again)

The UK housing crash keeps on exceeding expectations. It is worse than the worse case scenario.

Prices are now down 11.5 percent since the Autumn 2007 peak. We could be looking at the most violent housing crash in UK history. How low can they go? Most UK homeowners lack the imagination; they can not conceive how bad this crash will be.

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