Thursday, September 18, 2008
Bite on this Leather Strap when it Hurts
The adjustment in U.K. house prices will be ``painful'' for many households as home values fall to a more sustainable level, Bank of England Chief Economist Spencer Dale said. ``A range of indicators point to further weakness in the months ahead,'' Dale said in a speech to business leaders in Dover today. ``This process of adjustment will be painful for many households.''