The UK is even gloomier than the US

If you thought it was bad in the US, you need to read the British press. I subscribe to a number of RSS feeds for UK newspapers. I was rummaging tbough the Telegraph’s news feed and I was surprised at how gloomy the mood is in the UK. Things have gone pear-shaped in a hurry.

I still look to the UK as a leader in the race for next country to take over the reins in this global housing deflation. Other contenders are Spain and Ireland. Below is a sampling of the negative stories from the Telegraph, all from today. UK Bubble is the best blog source I have found for UK-specific updates.

Telegraph stories
Barratt and Taylor Wimpey shares hammered as City turns on housebuilders
Barratt and Taylor Wimpey’s woes deepens as shares tumble
Plight of Barratt and Taylor Wimpey deepens as shares fall more than 20pc
UK housing market: ‘beyond tipping point’
Petrol could hit £2.30 a litre, Gazprom warns
Barratt ‘needs £1bn to survive’
Shareholders angry at Bradford & Bingley ‘anti-dilution’ deal
Questor special: Keep door shut to housebuilders as they try to weather storm
The economic disaster will get worse
We face longest era of turmoil in memory, says Bank boss
Petrol sales fall 20pc as drivers feel the pinch
HSBC boss: Bank model blamed for credit crisis ‘is bankrupt’
House sales ‘collapse’ to lowest in 30 years, says RICS
‘House prices to fall until 2010’: the options for buyers and sellers
UK economy: Are rising prices or slowing growth the bigger danger?
House sales fall is steepest since the 1970s, says RICS
Job fears as house sales plummet

See also: Other posts under the label ‘UK.’

Mortgage meldown in Britain
Lawmakers default on loans too


Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty years of business experience. He is also a regular economic and financial commentator on BBC World News, CNBC Television, Business News Network, CBC, Fox Television and RT Television. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College. Edward also writes a premium financial newsletter. Sign up here for a free trial.