Monday, Jan 26, 2009
only red alert? Maybe depression alert would be better
yahoo: UK Cities On Recession Red Alert
Belfast, Liverpool, Wigan and Hull have been put on a recession "red alert" as a study reveals the downturn will hit Britain's leading cities harder than expected.
Posted by mark @ 09:54 AM (284 views) Add Comment
3 Comments
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1. Tintagel said...
If Belfast, Liverpool, Wigan and Hull are Britains leading cities we are so screwed we may as well emigrate to Bulgaria.
2. drewster said...
Strange combination of towns & cities. Belfast has some of the most overvalued properties in the country (worse than London, by some measures), and local wages were inflated by massive government spending and public-sector job-creation.
Hull is the complete opposite, it has always been one of the most affordable towns and local wages are amongst the lowest in the country. From that analysis, Hull looks better placed to withstand a recession.
3. plato said...
A busy day today but I feel compelled to comment.
Just as property values reflect the wealth of a City so do they reflect the poverty. A wealth built on false values could only be sustained by borrowing against that 'value' to afford the expensiveness of that City. The debt that City aquired has to be repaid by the population dependent on that City and the sacrifices required are the same reason simplistic human sacrifices were once practiced. To avoid destruction. This is how serious the true valuation of property really is.