Tuesday, March 11, 2008

Reality dawns

Dire news for Darling's budget debut

Britain has so far avoided a year-on-year house price fall like the one that has brought financial crisis to the United States, but many economists say it is just a matter of time. "Our forecast that house prices will only fall 5 percent year-on-year this year is beginning to look quite optimistic," Citigroup economist Michael Saunders said. "The mortgage market remains an unfriendly place," said George Buckley, chief UK economist at Deutsche Bank.

Posted by blank cheque @ 06:20 PM (419 views)
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