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Roof may fall in on U.K. housing boom, IMF warns.
Knight Ridder/Tribune Business News, September, 2004
Daily Mail, London Knight Ridder/Tribune Business News
Sep. 23--The International Monetary Fund has singled out the British housing market as being in danger of a hard landing in a report on the global property boom.
In its twice-yearly World Economic Outlook, the Washington-based IMF said that a slowdown in UK prices should remain "manageable," but that a drop in prices cannot be ruled out.
"There is a danger that higher interest rates could trigger a much larger downward adjustment in house prices," it said. The report warned its forecasts do not take account of "potential bubbles."
The research shows how the UK is more vulnerable to a housing collapse than many other developed nations. Prices here have risen by more than...
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