Thursday, December 13, 2007

Great news!

UK housing market slows still further

"The stock of unsold property on surveyors’ books increased by 8.7 per cent in November, market conditions were the loosest since October 2005. applicants offer considerably less than the asking price and many vendors have had to bite the bullet and accept,”In Cobham – one of the most expensive areas outside London – reported “a large number of fall-throughs” while in West Yorkshire market had “gone into hibernation for the winter”. In Oxfordshire, said the results of the City bonus season could swing sentiment. “If they are better than expected, this will help – and the converse!” Ho! ho! ho!

Posted by confused76 @ 02:10 PM (786 views)
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One thought on “Great news!

  • Expect a bitter and sustained attempt by central banks and governments to maintain the illusionary and fictitous wealth created by high house prices. It seems that it is now the cornerstone of the UK economy at least. The achilles heel of the approach is that it is the private banks who must fund the illusion and ultimately carry the risk when things go belly up with the debt. If private banks are continually bailed out by central banks what will happen to inflation (and the value of the currency? There simply is no soft landing to all this.

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