Tuesday, May 20, 2008
Read between the lines, there is only one possible outcome
Forbes: U.K. Faces Housing Crisis
"While the U.K. economy remains remarkably strong and home-price falls are currently modest, signs are emerging of significant slowdown and pointing to a prolonged period of falling home prices. Moreover, contraction of equity withdrawal, falling new construction and the prospect that rising mortgage defaults could prolong the credit crisis may dampen further GDP growth" Listen, in the absence of a major global upcycle that would benefit the UK disproportionally (is it just me? but I do not see it) how do you keep this inflated prices up? The only other way is to shave an additional 20 to 30% off Pound.
Posted by confused76 @ 01:06 PM (670 views) Add Comment
3 Comments
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1. mark wadsworth said...
These morons Forbes need to be told, for the zillionth time, it ain't a 'housing crisis', it's an 'interest rate shock'.
2. inbreda said...
Sounds like one of those really expensive forecasting methods that all hte best economic experts use.
"it went down last month, so my prediction is..."
3. icarus said...
Still, there are lots of negative fundamentals listed here. I don't think Brown & Badger et al will include these the next time they talk about fundamentals.