Sunday, July 15, 2007
The market has given very clear indications
Look one third down the article: "THE decade-long love affair with property is over. In the same way trees don’t grow to the skies, we are now being reminded of the investment limitations of commerical and residential property. The valuations of both asset classes have been pushed – for the time being at least – to the maximum. Property has enjoyed such stellar returns over the past five years that a lot of investors thought it was a one-way ticket to riches" "IT is not just property stocks that have taken a hammering. So too have banks exposed to mortgage lending. Their shares have been in sharp decline, none more so than Northern Rock, Britain’s eighth-biggest listed bank and fifth-largest mortgage provider."