Wednesday, January 14, 2009
asset prices look like they will continue to decline
One argument by John Redwood, who I never liked much but his opinion seems reasonable but he doesn't say all that much, with the opposing argument by "David Kauders, partner in Kauders Portfolio Management" who has the interesting point that savings (I guess he means the coin of savings/debt ! :) ) is low historically. I suppose locking a decade of FTBs out of the market might crimp overall borrowing. Poor old kids have had to borrow 80 quid for an ipod instead of 100K for a normally priced house.