Nobel laureate sees UK bubble

Tim Wallace
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THE UK is experiencing a housing bubble, economics Nobel winner Robert Shiller warned yesterday, blaming easy credit for the boom.

“It looks somewhat like a bubble, prices are rising pretty fast,” he told BBC’s Newsnight.

“Whenever you have easy credit, that helps promote a bubble.”

But he said it will not be as bad as the boom before the financial crisis as the public has learned lessons from the pre-crash years.