From memory their view was too much risk being taken off the books of lenders so their standards would suffer.
A4O, I agree. Wouldn't touch them myself. I think we're now up to 5/6 frozen funds now. Carney came out a few days ago and said commercial property values we're 'stretched'...
Word on the street is that real estate funds have been piling their $ into the FTSE 100 (taking advantage of FX translation as many of those company's functional currencies / divvies are in USD). That may not end well...
Still, I do hope property does come down in London without too much pain elsewhere.
