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European Salon de News, Discussion et Klatsch - 13 December | 111 comments (111 topical, 0 editorial, 0 hidden)

So who is buying these houses? Is there a slow moving version of the mortgage disaster we had in the US?

you are the media you consume.

by MillMan (millguy at gmail) on Sun Dec 13th, 2009 at 03:49:40 AM EST
[ Parent ]

there are a large number of very well off people in london who can afford those mortgages. and second and third houses out in the country to prevent property prices dropping out there

Also a lot of property was bought on "buy to let" mortgages (pay off interest only) which catastrophically distorted the market.Plus people are beggaring themselves to get on the housing ladder.

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Sun Dec 13th, 2009 at 06:51:51 AM EST
[ Parent ]

European Salon de News, Discussion et Klatsch - 13 December | 111 comments (111 topical, 0 editorial, 0 hidden)

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