When Robert Shiller was writing the second edition of his book Irrational Exuberance, he warned that the US housing boom bore many similarities to the stock-market bubble, which burst so spectacularly in 2000, just a month after the first edition of the book was published.
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**Bad debts rise at construction firms **
12 November 2006 By Kathleen Barrington
A sharp increase in the number of construction companies unable to meet their debts has resulted in a sudden increase in bad-debt claims from holders of trade-credit insurance policies, a leading broker has claimed.
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**Regulator warns about high-risk property loans **
12 November 2006 By Richard Curran
The financial regulator has warned that banks face serious risks from lending to property developers who purchase greenfield sites without proper security on the loans.
The financial regulator has warned that banks face serious risks from lending to property developers who purchase greenfield sites without proper security on the loans.