Wednesday, February 3, 2010
An old style HPC protest at our national obsession
No direct mention of interest rates or Central banks: "According to the latest survey from the Nationwide Building Society, the average UK house price rose by 1.2% in January, pushing the annual rate up to 8.6%. Even taking the latest figures with a large pinch of salt - the figures are based on what are historically low levels of transactions - it is obvious that the much needed readjustment in house prices has not happened. House prices should have crashed in 2007, following the longest, largest and most expensive credit boom in history."