Credit crunch to last another 18 months

Times Online and news gencies The credit crunch could last another 18 months, with the property market to remain stagnant until 2010, a leading British mortgage provider warned today. Andy Hornby, chief executive of HBOS, said house prices were not likely to rise again until 2010 while lenders waited "to give the confidence back into the system for banks to start lending again". Hornby - whose bank owns the... [read full story]