Tuesday, September 29, 2009
So much for the Autumn bouce
It's pretty simple really, and the B of E agree: "Today's Bank of England data showed that total mortgage lending climbed to a 6-month high of Â£1.0 billion in August. They also revealed that consumers paid down unsecured debt at the fastest rate since records began in 1993 as concerns about the economy and job losses continued to weigh heavily. " Unless people see some kind of improvement with the Exchange Rate, Economy or Unemployment - which we all know is not about to happen for many, many months - people will walk away from property commitments unless they have to.