Apparently it's not considered newsworthy beyond the local press, but a whole block of the Morningside Estate in Hackney Wick/Homerton, i.e.

A pertinent reminder that the so-called 'housing bubble' isn't just a matter of subprime foreclosures and repossessions: the buyers of the 'financial products' through which mortgage debt is abstracted and redivided at the outer limits of algorithmic calculation are none other than private pension funds, so that capital's 'no alternative' answer to the pseudo-problem of the 'demographic bomb' may yet manage to create a real 'pensions crisis' where none need have existed

Why the subprime bust will spread By Henry C K Liu

Further to the dominant theme of the last couple of weeks...
(from Prudent Bear: http://www.prudentbear.com/)