Financial crisis: Housing prices in the UK have fallen nearly 12- percent over the past year (03.10.2008) je 14
Michael BärOctober 3, 2008
One of the reasons many people buy homes is to sell them sometime in the future at a profit. But in the US and the UK, the value of many homes is now lower than the amount owed to the bank. That's a big loss for many homeowners. Housing prices in the UK have fallen nearly 12- percent over the past year. Many are waiting for prices to rise again, but that could take a long time.