Thursday, Aug 28, 2008
Lex is a big bear - a BIG bear!
FT - Lex: Bleak Houses
The pace of collapse reflects, in order of significance, the ludicrous valuations ahead of last October’s peak, a fundamental shift in buyer psychology, and credit withdrawal by lenders. The average house price is now 11.5 per cent down from the summit in nominal terms. Economists forecasting 35 per cent peak-to-trough nominal falls, once outliers, are rapidly finding themselves rejoining mainstream opinion.
Posted by james @ 03:50 PM (74 views) Add Comment
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