Housing woes deflate FTSE

A rare dose of good news from the high street failed to cheer investors today as more housing market woes dragged the London market into the red.

Housing woes deflate FTSE
Fri, 20 Jun, 2008 - 18:44

A rare dose of good news from the high street failed to cheer investors today as more housing market woes dragged the London market into the red.

Britain’s biggest mortgage lender Halifax Bank of Scotland revealed £1 billion in writedowns and predicted a 9% fall in house prices, causing misery for rival lenders and housebuilders.

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