Saturday, July 19, 2008

Citi Chairman: Housing Prices Could Fall For Two More Years

Citigroup chairman Win Bischoff has warned that house prices in Britain and the United States are likely to keep falling for another two years.

Bischoff told the BBC in an interview that he expects it will take two years for the markets to stabilise.

He also said he expected the credit crunch could continue through until 2009.

No further details were released of the interview which is due to be broadcast later on Saturday on the BBC News Channel.

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