Saturday, January 19, 2008
Crash or Stagnation
Will house prices crash in 2008? This is the question that seems to be on every one's lips at the dinner table in almost every home in the UK. Despite certain mortgage lenders telling the public that there has been, on average, a steady 5% increase in house prices during the last year, most people have already started to realise that the uk property market is definitely in serious trouble - the demise of Northern Rock; interest rate rises; reductions in mortgage approvals and the rippling effect of the downturns in the US economy have all begun to take their toll.