Wednesday, Dec 10, 2008
Guess what!? - Lenders are making it worse! How could it be worse?
The Mortgage Warehouse: Lenders make house price crash worse
According to the Royal Institute of Chartered Surveyors, it is the banks and mortgage lenders who are making the house price crash worse than it need be. In particular, the sale of repossessed properties at knock down prices has contributed to the claim by estate agents that their average sales have dropped to less than one a week. This is the lowest figure in thirty years and hints at further job losses in the sector.
But I thought that this was just the market finding its own floor, enlighten me please!
Posted by gone-to-colombia @ 04:56 PM (208 views) Add Comment
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