The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: nextrade! who wrote (6986)	11/20/2002 8:51:17 AM
From: Wyätt Gwyön	Read Replies (1) of 306849

UK bank chief warns on house prices news.bbc.co.uk Mervyn King, the Bank's deputy governor, said late on Tuesday that sustained house price growth at a time of global economic weakness could lead to a "large negative demand shock" later on. "Beneath the surface of stability in the UK economy lies a remarkable imbalance between a buoyant consumer and housing sector on the one hand, and weak external demand on the other," Mr King said in a speech at the London School of Economics. "Even the optimistic Mr Micawber would realise that this cannot continue indefinitely," Mr King added, referring to a character in the Charles Dickens novel David Copperfield.

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