Thread Status:
Not open for further replies.

House prices 'could drop another 55%' and leave Britain bankrupt

Discussion in 'Dubai property' started by PropGuy, Mar 12, 2009.

  1. PropGuy

    PropGuy New Member

    House prices could slump by another 55 per cent, a respected City forecaster warns.

    It also predicts a deep recession lasting throughout next year and a 'very real probability' that Britain will go bankrupt.

    The report leaked yesterday from financial analysts Numis Securities says that the collapse in house prices is not 'anywhere near over'.

    They have already fallen 21 per cent from their peak, but the report says they will slump further by up to 55 per cent if the over-correction in prices is as bad as in the early 1990s.

    That would leave many millions of Britons in negative equity - when their house is worth less than their mortgage.

    House prices 'could drop another 55%' and leave Britain bankrupt | Mail Online
     
Loading...
Thread Status:
Not open for further replies.

Share This Page