Monday, Jun 23, 2008
70% off
Evening Standard: Recession UK
New-build flats have lost up to 70% of their value.
Posted by jd @ 11:47 AM (331 views) Add Comment
3 Comments
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1. dbnazz1 said...
No house price crash then, just a gentle slow down? NOTTTTTTT!
This one is already looking more severe than the last one (early nineties), and we have only just moved to phase 2. Give it to around November this year and we will be up to our necks in the brown smelly stuff.
Property sellers have now had to bite the bullet of reality and start to reduce prices. The pertential sellers who were sitting on the fence to see how things panned out I suspect have now gone into panick mode to sell sooner rather than later, hence the big increase in number of properties for sale.
The storm is brewing in all directions now. Oil and other commodity prices, food prices, unions starting to rattle the battle drum and prospect of rate increases from BoE.
One more BoE rate rise and that will be it for the economy, it will be the straw that breaks the camels back. Oh, and great to see that the unions have finally woken up to the great inflation con-trick. Strikes are ahead.
2. Routemaster said...
New-build flats! Just look at the photo, it looks like a new build prison!
3. Routemaster said...
New-build flats! Just look at the photo, it's like a new-build prison.