Watch out, UK
The International Monetary Fund thinks the United Kingdom "is among the countries most at risk of a steep housing market downturn, with property even more over-valued than it was in the US before the recent correction," the Financial Times reports.
“If you look at price-to rent-ratios or price-to-disposable income ratios, these have increased significantly more in the UK and some other European markets than in the US,” said Charles Collyns, deputy research director at the IMF.
Others are skeptical, saying the UK has little available new housing and a small inventory of rentals.
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