Monday, February 25, 2008

Well, what else did you expect?

Mortgage approvals spread more housing gloom

There was fresh evidence of a slowdown in the housing market today as figures revealed that mortgage approvals for new home purchases fell by a third in January compared to January 2007. remortgages which accounted for a record 49 per cent of all mortgage approvals.

Posted by hpwatcher @ 11:45 AM (993 views)
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2 thoughts on “Well, what else did you expect?

  • Denial, anger then despair.

    In that order. Denial nearly ending, anger almost started,

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  • I think the denial stage may last a while longer. The great British public’s obsession with house prices will carry on until people see real evidence of a relative or neighbour who has been re-possessed. Until then they will prefer to listen to the VI’s positive spin – feels better that way.

    Maybe after the Easter / Spring ‘recovery’ fails to materialise a more realistic attitude may prevail – but I doubt it.

    Dino.

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