Any collapse of the Britannia Housing Bubble has a direct impact not only on home valuations, but the nation's mortgage markets, home builders, real estate, home supply retail outlets, Trinsic Bank's hedge funds held by large institutional investors, and foreign banks, increasing the risk of a nationwide recession. This is why Lord British declared that house deed sales practices will now be curbed and monitored more closely, causing the brokers to strike. In the wake of the mortgage industry meltdown, Blaise, King of OooO, Chairman of Purple held hearings in March in which he asked executives from the top five subprime mortgage companies to testify and explain their lending practices. Blaisesaid that "predatory lending practices" were endangering home ownership for millions of Sosarians. In addition, Imperial counselors such as counselor Avery of Yew were already proposing a government bailout of subprime borrowers like the bailout made in the Lumber and Ore crisis, in order to save homeowners from losing their residences. Opponents of such a proposal asserted that a government bailout of subprime borrowers is not in the best interests of the Brinannia economy because it would simply set a bad precedent, create a moral hazard, and worsen the speculation problem in the housing market. In September , the bank of Britannia applied to the Bank of Sosaria for emergency funds because of liquidity problems related to the subprime crisis. This precipitated a bank run at Yew Bank branches across the area by concerned customers who took out an estimated 2bn gold pieces withdrawn in just three days. Consequently, Upgrayedd's Upgrayeds, David Hasslehof's free booze and Gideon's Tavern all applied for house deed vending permits.
A semi critical bug was detected and reported to the staff which required us to disabled these vendors for the time being. Since this player chose to report the bug rather than exploit it (I swear this only happens on Renaissance) He was rewarded with a special trophy and custom interior decorator. This bug has already been fixed and if a player wants to cash in a house deed in the interim he can just page a staff member. The patch should be ready in a few days.
This doesn't affect players buying new house deed also, and if you want to warn me ahead of time I can be available to help you trade out a deed in the event you cannot afford both. We are finishing up the work on patch 42 and will get these vendors returned as soon as possible.
I demand Lord British immediately fire all the real estate brokers! If they are allowed to get away with unionizing how long will it be before our reg vendors do the same?! SOON THEY'LL DEMAND A LIVING GOLD WAGE! *chants* BREAK THE STRIKE BREAK THE STRIKE
