Tuesday, May 19, 2009

Green shoots with no roots

Housing market yet to stabilise

Alan Cleary, managing director of Exact, echoed Capital Economics' cautious outlook. He explained: "Housing market commentators would have us believe in green shoots springing up everywhere, but for those in the know, sentiment has not turned yet. House prices cannot recover until the mortgage market is fixed, and that is some way off."

Posted by jack c @ 09:53 PM (1026 views)
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2 thoughts on “Green shoots with no roots

  • gone-to-colombia says:

    How true!

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  • brickormortis says:

    Housing market will not “pick up” until houses return to sensible levels (ie sensible multiples of income). We all agree that lending institutions have been acting largely irresponsibly in the past so why pressure them to lend now suggesting that the mortgage lending is the problem. i am sure banks would be happy to lend against sensibly priced properties with sound deposits against them.

    Actually, the housing market is “recovering” as we all know. It has had a very high temperature for some time but if it stays in bed long enough and follows the doctors advice, all will be well.


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