Saturday, September 22, 2007
Correction should be no surprise!
In one dramatic convulsion Britain’s housing industry – from house buyers through mortgage providers to house builders – has moved from boom to the prospect of sharp correction. It is one thing for the housing market to anticipate a slowdown in growth. It is quite another to adjust to the prospect of a sharp and immediate downturn. Whether you are an individual planning to sell a property, a house builder looking for new sales or the government stuck with a target of building 3m homes, prospects have suddenly become much bleaker.