FourFourOneFourFourFive years ago, the first mortgage-backed securities of the global property market collapsed, and a year later, the property market in Britain was plunged into chaos.
Since then, property values have risen and fallen across the country, and it is a common refrain among those on the receiving end of the crash: that Britain has never recovered.
But the crash was caused by a set of companies, and in many cases the firms themselves.
The three biggest companies involved were all real estate agents.
Many of them, such as RFS Realty, managed the purchase and sale of property.
They were part of the industry that had been in existence for decades, but they were the first to suffer the collapse, and are now among the largest companies that have been hit by the crisis.
In the run up to the crash, real estate agent Richard Coggan bought the property of his friend in the east of England for £15,000.
His client was then a friend of his and, according to his friends, they would have bought the house for £25,000 or more.
The purchase of a house for less than the price was unheard of in the 1970s, and Coggy had to fight his way through a thicket of tax and council tax that was imposed by the then Labour government.
The property went up in value and, in the years that followed, Richard Coggans family had to pay back £7,000 in tax on the house.
The proceeds from the sale went to Richard Cogan.
In 2012, Coggans family bought another house in the same location for £16,000, and, again, the buyer was Richard Cogen.
Coggan and Cogen were the only real estate brokers in the market when the crash happened, but many of their clients had been buying properties in the UK for years.
In 2012-13, the three companies were selling their properties for up to a third of their initial value, and the price of the property was rising rapidly.
The buyers were able to buy their properties at a profit.
But that was not the case for the companies that sold the properties to their clients.
They had to borrow from the banks and pay interest to borrow money.
Some of these lenders had loan agreements with them.
“They [the lenders] had the loans that they needed to buy the property and to sell the property, and so they [the agents] had to get those loans,” said Mark O’Sullivan, a partner at O’Brien.
They were also able to sell at a loss.
One of the lenders, a property broker called RFS, was bought by the same firm that was buying the property.
RFS bought the properties from RFS Real Estate, and they sold them to another firm called RBS Property, who were buying the properties at an inflated price from the agents.
As RFS went bust, the firms that were selling the properties had to put money back into their own banks and were unable to do so because of the tax implications of the sale.
They had to give their clients back money, which they could not get from the lenders.
Many of the banks that lent money to RFS were also the banks who lent money, so they were also at risk.
While the loans were repaid, the lenders were left holding the bag.RFS, the real estate broker, had to spend the money back on loans and to pay interest on the money that it had borrowed.
After the crash the companies were in a financial mess.
This was the case with RFS and its subsidiary, RFS Home, which was owned by the company that had bought the land from Richard Coga.
It was not just the banks which lost money, and this is where the money was spent.RBS was also in financial difficulty.
It was on the verge of defaulting on its loans, and was in the process of selling property.
It had debts of more than £100 million.
In the years following the crash when the banks lost money on their loans, the money had been put into the pockets of the companies which had sold the property to them.
The money from the loan that was repaid, however, went into RFS’s pockets.
Its debt to RBS was about £60 million, and there was no way the money would ever be repaid.
It was just too late.
It took more than two years to get the money.
The financial problems of the three lenders that had lent money were so bad that RFS was forced to borrow more money from a private lender.
When RFS needed to borrow further, it was forced by the regulators to issue its own bonds.
The bonds had no intrinsic value and the banks were not allowed to borrow them.
In 2011, RBS’s debt