Monday, June 2, 2008
Furniture and kitchenware – going down
The VIs beginning to capitulate: "Simon Rubinsohn, chief economist for the Royal Institution of Chartered Surveyors, said: "The 58,000 mortgages approved in April is roughly half the total sanctioned in the same month a year ago. "This highlights very clearly the real problem facing not just the property market but also the wider economy. A collapse in transactions of this magnitude has major implications both for consumer spending and a wide range of ancilliary industries." "