Since my last update,

http://www.noelwatson.com/blog/PermaLink,guid,0e3b33e1-7703-4307-ba05-1f8326b04221.aspx

Spreadfair is predicting further falls for London whereas the whole of UK is unchanged

Halifax showed London down over 6% in the last quarter, from 320,364k to £300,318

http://www.hbosplc.com/economy/includes/19_01_08greater-london.doc

http://www.hbosplc.com/economy/includes/19_01_08UK.doc

Slightly OT, an American tries to justify the amount he paid for his house

http://themessthatgreenspanmade.blogspot.com/2006/04/debunking-dismal-duo.html

Motley Fool analysis on last downturn

http://www.fool.co.uk/news/property-home/2008/01/25/how-bad-was-the-last-housing-crash.aspx

http://www.fool.co.uk/news/property-home/2008/01/25/the-last-housing-crash.aspx?source=eooyhoit14050001

All started by Bill Gross

http://www.pimco.com/LeftNav/Featured+Market+Commentary/IO/2008/IO+January+2008.htm

saying that protection sellers may start to struggle if CDS companies start to default. There is around 43bn USD notional CDS outstanding

http://www.bis.org/publ/qtrpdf/r_qa0712.pdf

Even if companies do not start to default, the fact that spreads have started to widen recently indicating that the market is pricing in more defaults happening in future meaning that protection buyers will be asking for more collateral. This is where SCC came unstuck

http://www.ft.com/cms/s/0/5982ae9c-bff9-11dc-8052-0000779fd2ac.html?nclick_check=1

Some further comments here

http://ftalphaville.ft.com/blog/2008/01/14/10132/not-merely-a-subprime-crisis-cds-and-global-financial-meltdown/?source=rss

http://ftalphaville.ft.com/blog/2008/01/11/10099/counterparty-risk-08-edition-for-desking/

http://www.ft.com/cms/s/0/50d659d2-c1f3-11dc-8fba-0000779fd2ac.html