Thursday, May 24, 2007
ITS JUST THE BEGINING
Get ready for a 6% UK interest rate
Last night, we got an email from Capital Economics outlining when the bust will begin. The economics consultancy, headed up by Roger Bootle, had previously foreseen a gentle slowdown. But it now reckons that “the commercial property market is no longer likely to avoid meaningful falls in capital values over the next few years.” The group thinks prices will fall by 4%-6% in both 2008 and 2009, with further falls in 2010, meaning that, over those three years “total returns at the all [commercial] property level will be approximately 0%.”
Posted by chris @ 01:53 PM (480 views)
One thought on “ITS JUST THE BEGINING”
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dohousescrashinthewoods says:
Looks like SwissRe (gherkin) and HSBC (Canada Wharf) called it just right in getting out.