Sunday, January 6, 2008
London housing market is dead in the water
"The volume of British buyouts tumbled 80 per cent in the fourth quarter, as the squeeze on global credit led to the quietest three months in nearly five years, data published today shows. The value of private equity buyouts plunged to £2.9 billion from £15.4 billion in the third quarter as high-profile deals, such as a proposed acquisition of J Sainsbury, were shelved in the wake of the credit crisis." there was not even one secondary deal in the fourth quarter." Add to that that retail profit warnings will flock in this week, I think we can safely call the crash in London.