John Couch Blog
A Property History Lesson
Wednesday 14th January 2009 -
added by Susan Couch
What goes up comes down and what is down goes up. So here is a property history lesson which proves that up follows down.
1694 Interest rates were 1.50% - when the Bank of England was established to manage mounting debts (so nothing much has changed). William III was King of England, Peter the Great was the Russian Czar and the colonisation of North America was under way.
The Mid Nineteenth Century A financial crisis arose when a speculative bubble in railway stocks caused financial upheaval. Developers in London were going into bankrupcy and no doubt our Victorian ancestors were tearing their hair out at the boom and bust cycle causing turmoil to their lives.
1974 Saw a banking criss, property market crash and recession, followed in 1990 by another property market correction and recession.
Interesting reading?
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