What a difference a year makes. July 2007 was the last month before the credit crunch. Back then, banks were approving around 65 thousand loans a month. This July, banks approved just over 20,000.
No credit=no housing bubble.
3 comments:
Anonymous
said...
It all fits:
Interbank lending down by about two thirds; mortgages down by about two thirds...
House prices more than tripled 1996-2007; now they have to go down by about two thirds too...
3 comments:
It all fits:
Interbank lending down by about two thirds; mortgages down by about two thirds...
House prices more than tripled 1996-2007; now they have to go down by about two thirds too...
B. in C.
Now, now B in C. Don't let's talk ourselves into a recession.
Nick
Into?
B. in C.
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