Buy-to-let sales could drag down market - 2004-02-23
A swarm of amateur buy-to-let landlords all trying to sell at the top of the market will push Britain into a devastating collapse in house prices, claims one of the most bearish reports on the housing market ever to come out of the City.
House prices will fall by 30%, according to the report by investment bank Durlacher, with some collapsing by 45%. Some financial institutions like Bradford & Bingley, which has aggressively bankrolled the buy-to-let boom and self-certified mortgages, may not survive.
Read the full story at Evening Standard