Could contagion from the United States finally kill off the boom?

Rumours of the demise of Britain’s housing market have been greatly exaggerated, but could contagion from the United States finally kill off the boom?

Gabriel Rozenberg: Analysis - The Times, 29 Augist 2007

Do not underestimate the pain of America’s property market. Analysts expect prices to fall by about 10 per cent, which Bill Gross, the managing director of Pimco, said would be “an asset deflation in the US never seen since the Great Depression”. The downturn has exposed canyon-wide gaps in the country’s mortgage market, notoriously in the sub-prime sector, and the repercussions are still unfolding - full article