The front page in today’s Observer:
‘Housing boom over’ as UK bank chaos grows
Britain’s house price growth will be halved next year as the global financial crisis exacerbates the impact of rising mortgage rates, according to Nationwide, the biggest mortgage lender.After the dramatic bail-out of high street bank Northern Rock underlined the impact of the American ‘sub-prime’ mortgage crisis on Britain’s financial sector, Fionnuala Earley, Nationwide’s group economist, said she expected house price inflation to slow to around 3 per cent next year.
Continue reading Who is trying to pull the wool over our eyes?
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