2011 Could Be Toughest Yet for U.K. Housing Market - The Source - WSJ
When U.K. mortgage lender Northern Rock was rescued by the Bank of England in 2007, home owners had good reason to fear a prolonged and deep fall in house prices was on the way.
That hasn’t happened, and the decline in prices has been nowhere near as sharp as during the last crash, which accompanied the recession of the early 1990s.
One key reason is the absence of forced sellers, or home owners who can no longer pay their mortgages.
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