Monday, Jul 06, 2009
Renewed pressure on banks
FT: House price slide hits recovery hopes
European house prices fell more quickly in the first three months of this year than even in the fourth quarter of 2008 when global recession struck, a trend that looks set to dim the region’s hopes for economic recovery.
The FT’s European House Price Index showed the rate of annual price declines in the 16-member eurozone edging towards the even sharper decreases for the wider European region, driven by substantial house-price drops in the UK.
Posted by devo @ 10:31 PM (442 views) Add Comment
3 Comments
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1. japanese uncle said...
This is not just another HPC by cycle, but the HPC by the Great Depression, in which HP can well be much lower than 1998 level (ie 70% lower than the peak) by overshooting . Make no mistakes.
2. Neil B said...
"a trend that looks set to dim the region’s hopes for economic recovery."
When will these idiot analysts stop believing that high house prices equals a strong economy? Falling house prices will allow more people to buy houses therefore more people will be re-employed in directly related industries such as construction, utilities and sales as well as other indirectly related industries such as mortgages, finance and insurance, IT, Sales and Marketing, Supply Chain & Logistics.
The only way to save our economy is to reduce the ever increasing dole queue - we cannot hand out any more benefits.
3. 51ck-6-51x said...
& UK PLC needs economic recovery in Europe to stand a chance.