Summary
The forecast for the housing market next year is one of 'bright intervals and scattered showers' rather than 'storm clouds', a leading academic said yesterday. Doom and gloom concerning property prices is being overdone, Open University Business School economist Martin Upton said. House price indexes, mortgage repossession figures and industry reports reveal the market is weakening, but all- out collapse is still unlikely, he said.
At 4.6%, unemployment remains low - half the level it was between 1990 and 1992, which was the last period of significant house price deflation in recent history.See the full content of this document
Extract
'No Storm Cloudson the Property Horizon'
Meanwhile, real incomes are continuing to rise despite a slowdo...
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