Friday, April 24, 2009

The Housing Market Can’t Recover During Economic Devastation

Budget 2009: No Magic Wand for UK Housing Market Recovery

As expected the reactions to Alistair Darling's 2009 UK budget were numerous and varied from within the property and housing industries. Almost -- if not -- all the major bodies and representatives had urged something of the chancellor to breathe life back into the housing market, some have even said that solving the housing crisis will breathe life back into the economy as a whole. I have come up with a name for this: industrial-economic blinkers; the art of looking at the economic situation with blinkers so that you only see your own industry in front of you. The UK economy is in the worst shape of the industrialised world. Our budget deficit is now expected to reach over 12%, compared with 8.9% in the US, 6.2% in France and 3.2% in China. We will be paying for the Chancellor's massiv

Posted by problem pete @ 09:50 AM (732 views)
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