Wednesday, October 31, 2007
Don’t be so negative you! Houseprices never fall!
Referring to a report by the International Monetary Fund which claimed that UK house prices were overvalued, Ms Earley said it was "indisputable" that property values had climbed ahead of certain key indicators, particularly earnings. But that did not mean that house prices were "destined to fall", she added. "In fact, in the absence of an early 1990s-style shock to unemployment or interest rates, they are unlikely to do so," she explained.