Monday, June 2, 2008

Furniture and kitchenware – going down

Mortgage lending: Approvals hit record low

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." "

Posted by letthemfall @ 12:09 PM (569 views)
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6 thoughts on “Furniture and kitchenware – going down

  • And it was ALWAYS going to be the case. The only question was when this state of affairs would occur.

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  • Furniture and kitchenware have been in an extended slump for a good few years – in fact many smaller department stores sold up a couple of years back when they realised that the price they could get for the land they were sitting on (freehold in many cases) was worth over 20 years’ worth of store profits!

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  • need-a-crash says:

    This is brilliant, absolutely amazing, made my day!

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  • planning4acrash says:

    Test post for html code:

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  • planning4acrash says:
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  • planning4acrash says:

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