From: Derek * 
Newsgroups: uk.finance uk.politics.misc
Subject: Re: House Price Crash draws closer
Date: Fri, 06 May 2005 19:52:33 +0100


On Thu, 5 May 2005 20:00:37 +0000 (UTC), M Holmes
 wrote:

>
>My point was that mortgages are credit and the sort of credit that's
>currently available for mortgages is highly unlikely to still be
>available after a credit crash.  The lenders will be desperate to
>recover what they've already got out on housing, not looking to lend
>more into a falling market. 
>

Building Societies don't do much else.

How will they be able to accept deposits and pay interest on them
if the don't lend it out?

DG