Wall Street fears for next Great Depression

  barca1 12:31 17 Mar 2008

worrying times if your a home owner...

click here

click here

  barca1 12:43 17 Mar 2008

check them shares out on the right just under the green line..OMG

click here

  lotvic 12:59 17 Mar 2008

not good for me then as have house up for sale. Buyers will be scarce :(

  Clapton is God 13:06 17 Mar 2008

Apart from the fact that house prices have been falling for some time now, how does the stock markets slump affect home owners?

Or do you mean those with mortgages?

I am a home owner, but paid off my mortgage some years ago. In that respect, I'm unaffected by the current trading slump.

Now, the value of the various shares I own - that's a completely different story ....

  tein 14:11 17 Mar 2008

linked to just homeowners who have mortgages sounds relevant

  Snec 16:31 17 Mar 2008

When lenders lend money to people with no history of managing money (like saving a little bit over a year or so) this was always going to happen.

There is an old saying: When dealing with the inevitable, treat is as inevitable.

It became inevitable 10 years ago that a recession was on the cards. Without production from British Factories and Farms the big spend could not go on forever.

  Woolwell 16:43 17 Mar 2008

I am concerned that there will be a recession. I was talking to an estate agent today who informd me that the market is dead, nothing selling, and he has had to make a member of staff redundant. I also know someone else who was made redundant last week because companies/people are not spending.

  sunny staines 16:46 17 Mar 2008

4 british ones in trouble plus another us and 2 european ones.

  GANDALF <|:-)> 17:02 17 Mar 2008

The Bank of England released £5bn as cheap loans to the banks....they were 5 times over-subscribed in less than an hour...go figure.

The real problem with the USA is that it used to be a consumer orientated/developed economy with manufacturing as a back up . If there were problems then manufacturing came to the rescue. This will not happen now as manufacturing is in a perilous state in the USA (China, far east etc).

Recently two estate agents have closed in my area but this has come as no great loss as I firmly believe that the set of sharks have had a lot to do with bigging up the market and publicly, shamelessly, rogering buyers relentlessly.


  Snec 17:28 17 Mar 2008

Spot on!

  So Afraid 17:31 17 Mar 2008

4 british banks

Who are they?

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