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Old 7th September 2007, 09:00 PM
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Housing crunch no longer US problem.

The housing crunch is no longer a US problem, i can feel on the ground level that the since the august market rout, even the real estate boom in asia has slowed suddenly due to more stringent lending.

This is crazy if you consider the fact that the credit crunch in Europe and the USA did not affect asia as mortgages are financed by saving banks that are overflowing with money in the first place, rather than financial institutions that melted away with the credit crunch.

So it looks like this is the needle that will prick the UK property bubble?
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