[mertle]

Originally Posted by martyh

http://news.sky.com/home/business/article/16235092

OH dear ,here we go again

three spanish banks downgraded to JUNK

http://www.ibtimes.com/articles/3455...tings-junk.htm

Now nordic banks teetering

http://www.ibtimes.com/articles/3453...rdic-banks.htm

We heading for BANK CRISIS mark 2

Or should it be mark 3

wonder how much all the mess is all down to hyper overpriced land/property. We seemed to been in notion that it could get higher higher indefinately.

Over the years the value of property/land gone down in any significance even during lean periods its tended to only flutuate small margins. Yet rises been more steeper over the years.

You rarely hear housing crash to 50% of its former value.

This tends to drive other mechinisms such inflation standard living and need for comparable wages to suport mortgages.

Its also the biggest debt of any nation to banks mortage lending.