Ready for the ride ?

After the US, it seems the house "slump" is coming to the UK :
UK house prices see sharp tumble
November's fall in house prices is the largest since June 1995.
UK house prices saw their biggest fall in 12 years during November, mortgage lender Nationwide has said.

How much ? The market are betting on a 7% next year, that seems a minimum considering that the house price could be overvalue by 30% for HSBC, 40% for the IMF.

Will see, it's probably gonna become more bearish as the crisis unfold. Have a good ride !

Strangled by murder

Nice title on the bbc website

Strangled woman was murder victim

Bbc

The non story of the week

PC beats WWII computer.

What ? a Modern PC beats a 60 years old technology ! What a story ...

Credit crisis worse than LTCM

NEW YORK, Nov 9 (Reuters) - The credit crisis gripping the U.S. is now worse than the crisis of confidence following the collapse of Long-Term Capital Management in 1998 and recession risks are growing, said Jack Malvey, chief global fixed income strategist at Lehman Brothers.

"This is the deepest correction we've ever seen in structured finance," Malvey said in an interview on Friday. "This is now worse than Long-Term Capital. This is so dispersed, so interlocked and the relationships among the various entities are not as evident. This is a painful lesson in financial engineering."


OUCH!


Via Reuters

Technical glitch throws FTSE into confusion

Opps ... some might have a long night ...


The result is quite interesting


I can imagine the face of the trading floors...

House prices to 'cool not fall'

So they say. We'll see next year, I'll bet on a big drop in next years. Do you remember the 90s ... It looks very likely that it's gonna be worse.

Via BBC

Brockwell Park Fireworks this friday

Lambeth Fireworks 2007

Lambeth FireworksFriday 2 November, 7.30pm
At Clapham Common, Brockwell Park and Streatham Common.
Free Admission

More info

Ready for Credit Crunch Act II ?

From FT Alphaville