If I needed reminding about the fragile state of the economy, I saw it yesterday while out with our survey team in Brownsover. In one road there is Estate Agent’s board after Estate Agent’s board with the market jammed by a lack of mortgage finance. As a consequence, many people’s lives are on hold unable to move to the larger house a growing family needs or to take up a new job offer. Added to this, as I remember from the early 90’s, there is a growing anger about negative equity, the inevitable consequence of falling house prices. And things will get worse before they get better.Sunday 12 October 2008
House Sales or the lack of them
If I needed reminding about the fragile state of the economy, I saw it yesterday while out with our survey team in Brownsover. In one road there is Estate Agent’s board after Estate Agent’s board with the market jammed by a lack of mortgage finance. As a consequence, many people’s lives are on hold unable to move to the larger house a growing family needs or to take up a new job offer. Added to this, as I remember from the early 90’s, there is a growing anger about negative equity, the inevitable consequence of falling house prices. And things will get worse before they get better.
