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Soft Landing

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Has it happened yet?

Did I blink and miss it?

This one that was predicted at the top of the bubble?


Housing market in for soft landing

Thu Oct 18, 2007 9:15am BST

The housing market is slowing gently and is not on course for a sharp crash, a senior Treasury official says.

In testimony to a parliamentary committee after last week's pre-budget report, a senior Treasury official said indicators on the housing market continued to be mixed, but the overall message was of a slowdown taking place.

"We are forecasting they will slow down and we've got some evidence they are starting to slow down," he said. "We're certainly not expecting a disorderly correction in the housing market."

The British housing market has repeatedly defied predictions of a slowdown and prices have doubled in five years.

But many commentators are now concerned that five interest rates rises since August 2006 and the credit crunch afflicting global financial markets could put a sharp brake on property prices and destabilise the wider economy.

"We've never been expecting a fall in house prices," the official said.

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Has it happened yet? Did I blink and miss it?

You're just in time.

We fell off the cliff last year, but had a nice soft landing when our braces caught on a bush a few feet down.

The braces are now frayed, detatching from our trousers, and the bush is coming out the cliff - so make sure you enjoy the stability whilst you can.

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