Tuesday, April 28, 2009

More Brown shoots

Weeds among property market's green shoots

"Mortgage approvals have fallen for the first time in four months, dampening talk of a property market recovery. They slumped by seven per cent in March to 26,097, according to the British Bankers' Association. All measures of mortgage lending were slightly weaker during the month than in February. 'This drop in mortgage approvals shows how fragile the "green shoots" of recovery in the housing market are,' said Seema Shah, property economist at Capital Economics. 'Rising unemployment and expectations of further house price falls will continue to weigh heavily on mortgage demand,' she added. It is the first negative data on the housing market in recent weeks, following a run of positive indications that the slump may have bottomed out." OK, Spring Offensive over, back to business!

Posted by mark wadsworth @ 10:09 AM (870 views)
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3 thoughts on “More Brown shoots

  • japanese uncle says:

    When you have developed a nasty infection as a result of injury, you need to have a surgery to discharge puss first. Or If you suffer severe diarrhea thanks to the rotten beef you have eaten, the best solution is to go to toilet first. (Sorry about the indelicate comparison). Full scale HPC associated with the rigid determination of the bad debt loss at the real bottom of the market, should be the starting point for the green shoots. ‘Green-shooters’ at this point in time are as if simply applying ointment without discharging puss, or giving the poo(r) patient painkiller without allowing him to go to toilet first.

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  • We need a lot more of this sort of thing in all the mainstream media, fast. The slew of positive stories and particularly headlines has had a powerful effect on the cretinous populace.

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  • DAMN DAMN DAMN.

    Please don’t do that Mr Wadsworth……

    All I saw was “More Brown shoots” and my dyslexia did the rest.

    Who, i thought was this more chap, and was it a fatal shooting !

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