Britain's Property Boom Turn To Bust: Prep[are For a Hard LAnding  

Oleh:

The Economist (Editor)

Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Economist (http://search.proquest.com/) vol. 387 no. 8575 (Apr. 2008), page 63.
Topik: Britain's; Buble; Mortgage; NationWide Building Society; Labour Politicians

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Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29.48 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Home renovation would seem to be as exciting a spectacle as, well, watching paint dry. But as Britain neared the peak of decade-long housing boom, it became prime-time television as producers rushed to make shows like "Property Ladder". Those happy days in which acquring a house seemed a sure bet have now ended and even the boost of a quarter-point rate cut from the Bank of England on April 10th is unlikely to bring them back. Prices, which had been drifting slowy lower over the winter, have started failing more rapidly and dropped 2.5% in March, according to Halifax, part of HBOS and the country's biggest mortgage lender. The biggest monthly drop since September 1992 prompted widespread concerns in a country that still remembers its previous big bust, which started in late 1989 and from which prices did not fully recover for almost a decade.

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