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Realistbear

" European Housing Markets To Turn Down "

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http://www.businessworld.ie/livenews.htm?a...rollingnews.htm

European housing markets to turn down
Thursday, August 23 14:30:35
(BizWorld)
European housing markets show
clear signs
of turning down
, which brings downside risk to construction sectors, said Standard and Poor's Ratings Services in a report...../
However a further erosion of consumer confidence could push Europe's housing markets into negative territory and trigger a recession in the construction sector, the agency said in a report titled 'Europe's Housing Markets Fall In Line As Central Banks' Tightening Filters Through'.
The UK housing market has been resilient in the past year and a half, despite
record high levels of debt
in the household sector.
However Jean-Michel Six, S and P's chief economist for Europe, said, "Looking forward, the UK picture is less certain, house price inflation remains high, and
affordability is firmly stacked against first-time buyers
."

Let's hope not too many Brits invested abroad as a collapse in housing there and here may prove to be a disaster despite the continued extreme optimism that Gordon's miracle economy can keep going on its present debt fuelled track.

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Ahhh S&P, that incorruptible citadel of integrity.

No your getting confused.... corruption is when small sums are involved.

Big sums of money changing hands is called business :lol::lol::lol::lol:

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