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United Kingdom: Putting the Housing Bubble into Perspective
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[摘要] uk house price inflation has outstripped expectations for some time now, with prices up 9.8% year on year in february on the odpm index and 18.5% in march on the halifax index. even if one factors in the solid economic recovery and last years interest-rate cuts, it is difficult to rationalize this surge purely with economic fundamentals. most people would agree that this must be a bubble, reminiscent of the late 1980s or the equity bubble in the late 1990s. however, it is far less clear by how much house prices have overshot, when (and if) the bust will come and, if it happens, what form the correction will take.
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