Sunday, January 27, 2008
The wonder isn’t that the bubble is bursting, but that it has lasted so long
And now all us seem to be heading towards the edge - of a cliff, according to some forecasts, or of a downwards slope, according to others. The certainty is that the long boom is over. The consequences may be mixed - people feel less rich, houses become more affordable - but for estate agents a collapse in house prices is unalloyed bad news.