Britain has lost its triple a credit rating as of 6am. Off to a good start then.
Edit. Misread, it’s expected to hasn’t yet.
That’s Standard & Poor, I believe, and they don’t, as I recall, have a good track record on getting their forecasts right, and neither do the likes of Goldman Sachs.
burko73 – Member
All this “hope house prices crash so I can come back here and buy a house in the fall out” pi££es me off.
I had to save and do the right thing to buy a house, how does that help me and anyone else who’s bought a house recently if property prices crash and we’re all in negative equity? You think it’s the right thing to pick through the spoils of those who’ve had their houses repossessed and get a cheap deal on something the previous owners got chucked out of!
Been there before, back in the 90’s, everything recovered, and that’s what’ll happen this time.
When John Major’s government crashed out of the ERM all of the same dire forecasts were being made, the markets dropped, then recovered quickly, and things improved afterwards.