Tuesday, July 19, 2011
An alternative view
Shaun Richards, who describes himself as a 'freelance' economist looks at the prospects for the UK housing market. By the way, Richards is no bear, in fact he seems to think a property market resurgence would be a good thing. After noting recent poor performance, Richards suggests that low gilt yields and lender forebearance are bullish for the UK property market but the Bank of England has not been accomodative enough to ensure that the banks will have sufficient credit to meet mortgage demand. This is not a typical HPC fare but I suggest that it's worth a read to get an alternative view about the state of the housing market.