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Crest Nicholson house builder share price plummet on profit warning

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I have mixed feelings about this news.  House building companies are almost a necessary evil.  We won't get more homes without house building but these companies have played the market for decades by fostering the myth of the scarcity of land whilst sitting on land banks.  My default setting for companies like Crest Nicholson is 'scum' but they have only used a corrupt system to their advantage.  And that's before we get to the shoddy quality of many new built properties.  If gets so bad that they go into liquidation it will be the subcontractors who will pay the price not the fat cats at the top.

Edited by dougless

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  • 259 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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