Friday, February 13, 2009

Cash Rich Aberdeen Suffers

North East House Sales Dire !!!!

Even cash rich oil capital Aberdeen and the north east of scotland is stating to feel the efects of the downturn .Who said it would never happen here ??

Posted by johnnyp @ 11:38 AM (649 views)
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3 thoughts on “Cash Rich Aberdeen Suffers

  • Scotland was not going to effected so bad as the rest of the country many people have said,now with the oil industry away to feel the full effects of the credit crunch and the dropping of the price of oil it looks as if Aberdeen and the north east shall be hit just as bad as the rest of the country,so many people live outwith their means because they work in the oil industry and think it will never come to an end,big house ,must have big black 4by4 all the usual crap and then hey presto it all ends, will not be as bad as the 70s when the yanks left in their droves and handed their keys of the house back to the bank but the way things have been of late you never know!!

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  • A soicitor who doesn’t know which way to ramp the market. Like a rabbitt in a car’s headlights, he is going to get squished.

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  • Highland Property Bubble says:

    The real story in the North East is the oil price sitting below $40 per barrel which is less than the cost of extraction for much of the oil in the North Sea. This is a national emergency in economic terms.

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