Wednesday, January 2, 2008
“It’s taken much longer than I thought …”
In big-picture terms, I haven’t had a bad year at all. I started out reiterating all my usual themes. I worried about the strength of the economy as a whole and in particular (as ever) about the residential and commercial property sectors. It’s taken much longer than I thought, but both are now in trouble: commercial property funds are in a state of semi-collapse and house prices appear to be falling across the country.