Autumn of discontent in the housing market
The big picture is so big these days - and worrying - that the smaller picture
of what is happening in the housing market is in danger of getting lost.
Make no mistake, though: the changes that are happening will have profound
effects for years to come. Britain’s mortgage-lenders are in a period of
intense consolidation, of which Lloyds TSB’s takeover of HBOS, assuming it
gets over objections north of the border, is the most dramatic consequence.
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