07.10.2008 - French Property market avoids “le Crunch”
From Vefuk.com: For anyone living and working in the UK, there is only one thing on their minds, who is going to be the next victim of the “credit crunch”? We have seen the collapse or takeover of Northern Rock, Lehman Brothers, HBOS and Bradford & Bingley. Everyday we turn on the news to hear stories of rising energy & food prices and falling property prices. There is a general sense of doom and gloom. Don’t get me wrong, I am not saying that everything is perfect in France, but you only have to look at the people and the facts to see the sharp differences. The French see a house as a home and not as an investment. French banks demand a minimum down payment of 25% and providing a mortgage as a safe investment, not a “subprime” gamble..... Full Article: Source