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2008-09-17 Home Front Economy

AIG rescue calms markets, HBOS and Lloyds in talks

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Posted by ed 2008-09-17 08:33|| || Front Page|| [3 views ] Top

#1 If you think the US housing market was over priced and over leveraged then you should have been in London from 1997 to 2003 when I lived there. Remember everything there is dollar to pound. What you pay $25K for in the USA you paid GBP25 for the same thing in London (back then a 60% premium). Housing was ridiculous. Our little "cottage" in central London was GBP 450K in 1997 and over GBP1 million when we left in 2003. All these flats, terrace houses, maisonettes and cottages that have risen in price 200-300% or more in the last 4 years are going to come tumbling down along with their highly leveraged mortgages and will make yesterday look like a Sunday school picnic. That could be the other shoe to drop.

Posted by Jack is Back!">Jack is Back! 2008-09-17 12:14|| 2008-09-17 12:14|| Front Page Top

#2 The markets fell 450 points today.
If that is "CALM"... I don't want to see rough.

Posted by 3dc 2008-09-17 17:21|| 2008-09-17 17:21|| Front Page Top

#3 "rough" is when you've been looking for a job, any job, for a year.

Posted by Anguper Hupomosing9418 2008-09-17 19:35|| 2008-09-17 19:35|| Front Page Top

#4 I'm confused. I thought the markets were panicked -- that's what the other article said.

Posted by trailing wife ">trailing wife 2008-09-17 20:18|| 2008-09-17 20:18|| Front Page Top

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