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IMF: UK recession coming and house prices to fall up to 30%

Posted on 09 October 2008

From Belfasttelegraph.co.uk: The International Monetary Fund (IMF) became the latest body to predict a recession in the UK, when it radically downgraded its forecasts for British economic growth yesterday, and declared house prices 20 to 30 per cent overvalued.

The IMF’s biannual World Economic Outlook report said that “the world economy is now entering a major downturn in the face of the most dangerous shock in mature financial markets since the 1930s… The major advanced economies are already in or close to recession”….. Full Article: Source


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