Saturday, October 6, 2007
Asleep at the wheel. What happens next?
Wall Street should wake up. While the world’s biggest economy may not be in quite such a dire state as it appeared a few weeks ago, there remains no escape from the crisis that is continuing to unfold. House price falls are continuing to accelerate. Property prices in major cities dropped by 3.9 per cent in the year to July, compared with 3.4 per cent the previous month.