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Christopher Langner

Blame It on Basel

The incentive to use real estate as collateral might increase risks.

Property was behind the last big financial crisis, and if the fallout from Brexit worsens, it may be behind the next.

No wonder: real estate is an outsized part of banks' books, whether through mortgage loans or as collateral for other lending. So any blow to values can hurt the financial system -- and now, investors can blame it on regulators.