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Old 13.10.2008, 23:35
jjoensuu jjoensuu is offline
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Re: How Safe is UBS

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-Icelanders are broke...
Sad but interesting, that situation in Iceland. From some of the articles I read it seems that some Icelanders are getting burned because they have a mortgage denominated in a foreign currency, and others because of the inflation rate there.

On the other hand there may not have been as much 'house flipping' in Iceland as in the US...which means that people perhaps mostly bought their houses for long term and are not as concerned about a reduction in value as people in the 'States seem to be(?).

Does it look like many people could lose their homes in Iceland (like what is happening in the US)?
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