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House prices could fall for two years: Citigroup

Reuters
Prospective buyers visit an open house for sale in Alexandria, Virginia April 6, 2008.  REUTERS/Jonathan Ernst

Prospective buyers visit an open house for sale in Alexandria, Virginia April 6, 2008. REUTERS/Jonathan Ernst


LONDON (Reuters) - Citigroup chairman Win Bischoff has warned that house prices in Britain and the United States are likely to keep falling for another two years.



The chairman of one of the world's most powerful banks told the BBC in an interview that he expects it will take two years for the markets to stabilise.

He also said he expected the credit crunch could continue through until 2009.


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