Trust the Evening Standard newspaper to tell it like I think it is:
http://www.thisislondon.co.uk/news/a...ine/article.do
House prices 'will crash soon': Bank chiefs warn YOUR home is overvalued by 30 per cent
House prices are 30 per cent too high in the UK and could soon crash, the International Monetary Fund warned yesterday.
After a decade-long housing boom, it fears Britain is one of the most vulnerable countries in the world to a devastating price collapse.
In a further blow, the Bank of England warned that the mortgage meltdown is going to get even worse.
That's it. Recession guaranteed and with every recession there has ever been airlines go bust or get smaller. The pilot hiring market freezes instantly.
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