Housing Blogs

Some housing bubble news from Wall Street and Washington. Bloomberg, “Northern Rock Plc, lost 243.5 million pounds ($483.4 million) in the 12 months ended Dec. 31, the company said in its annual report published today. ‘The 2007 results reflect the impact of deteriorating market conditions and the effects of significant liquidity and funding constraints on the company,’ the Newcastle, England-based bank said. The company doesn’t plan to erase losses until 2011.”
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Original Source: thehousingbubbleblog.com