Saturday, March 29, 2008

Now talking about a bust

Credit crunch: Pinpointing the boom's turn into a nasty bust

At last, a tipping point is looming for Britain's national obsession: the housing market. The long boom in residential property prices has clearly been over for months, with volatile moves up and down in prices pointing to the market's shaky foundations. But with hindsight, it may well be that the past month or so will come to be seen as the decisive turning point when the long housing boom mutated into a nasty bust.

Posted by bufferbear @ 03:18 PM (818 views)
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2 thoughts on “Now talking about a bust

  • Love the way the media subtly moves around a topic as it reads the changing public reactions. It was only a few months ago when all you could read in the Times was how much you could make from property and what a mistake it is to sell to rent, but now HPC has become “de rigeur, Daaaarling”. So hop on the bandwaggon and sell some more copies. Lets hope this time there really are major drops so normal salaries can cover affordable mortgages and help to build a stronger society based on the common good, not the “I, Me, Mine” mentallity of the past decade, at least until the next time.

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  • And for an added bonus – let’s hope it clears out some range rovers along with the fugwits that drive them.

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