Monday, Feb 25, 2008
Well, what else did you expect?
Times: Mortgage approvals spread more housing gloom
There was fresh evidence of a slowdown in the housing market today as figures revealed that mortgage approvals for new home purchases fell by a third in January compared to January 2007. remortgages which accounted for a record 49 per cent of all mortgage approvals.
Posted by hpwatcher @ 11:45 AM (622 views) Add Comment
2 Comments
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1. paul said...
Denial, anger then despair.
In that order. Denial nearly ending, anger almost started,
2. Dino said...
I think the denial stage may last a while longer. The great British public's obsession with house prices will carry on until people see real evidence of a relative or neighbour who has been re-possessed. Until then they will prefer to listen to the VI's positive spin - feels better that way.
Maybe after the Easter / Spring 'recovery' fails to materialise a more realistic attitude may prevail - but I doubt it.
Dino.