+++ S&P Predicting UK Housing Market to Fall 30% By 2009 +++
Back in April Charles Bean, the Bank of England’s Chief Economist, gave an under-reported speech that shook up the Gilts market. It should have shaken up everyone. According to Mr Bean the Bank’s research found that 5% of mortgagors had less than 20% equity in their home. That is equivalent to 650,000 homeowners.
UPDATE : Pound is tumbling as Asian markets open tonight. The pound is now at the weakest it has ever been against the Euro, tumbling against the Swiss Franc as well. Guido is short…















