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UK: Housing market ‘unlikely to recover’, says Bank of England expert

Posted on 23 November 2011

The housing market is unlikely to ever recover from the financial crisis and it may prove economically beneficial for fewer people to own property, a senior Bank of England expert warned.
David Miles, a member of the Bank’s Monetary Policy Committee, suggested that people may have to wait until they are in their forties to buy a home as banks will not offer large mortgages………………………………………..Full Article: Source


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