Friday, January 2, 2009
No floor to any of the housing market
Matthew Sharratt, UK economist at Bank of America said: "There just doesn't seem to be any floor to any of the housing market data. That is highlighted again with mortgage approvals hitting a fresh record low. It's at an expectional weak level. There's no end in sight to the pain in the housing market. House price indicators will continue to tumble in coming months."