Wednesday, September 17, 2008

Sinking Sentiment

Bank turmoil threatens more housing misery

Grenville Turner, chief executive of property services firm Countrywide said his biggest concern in the wake of Lehman's collapse was a drastic change in sentiment, which could prolong house price falls across the broader market."We had just started to feel a bit more relaxed that we had got through the worst of this. I have likened it to a motorway crash, where lorries pile up behind you and you just sit tight and wait for them to stop," Turner said "I got the sense that people were beginning to get back on the road again. But instead another two and maybe even three trucks have ploughed into the back of you," he said.

Posted by mytimeisnigh @ 06:57 PM (573 views)
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