MashGet

June 16 (Bloomberg) -- Adam Posen, who will become a Bankof England policy maker in September, said he is planning to buya home in the U.K. when he relocates to start his new job.

“Oh yeah, this is my chance to get on the propertymarket,” Posen, a U.S. citizen who currently works inWashington, said in an interview at an event in Brussels today,when asked if he wants to acquire a home.

The U.K. housing market is showing signs of stabilizingafter the recession and the credit crisis prompt home values toslump. The Bank of England last week factored in a 20 percentdrop in property prices from 2007 as it estimated a 10th ofhomeowners may have loans that exceed the value of theirproperties. Posen is moving from the U.S. to replace TimothyBesley for a three-year term.