VVance
2489 Posts |
 Posted - 06/11/2008 : 05:39:17 AM
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And Mortgage Rates are on the way up...
UK Housing Market Seizes Up
The Telegraph is reporting House sales fall is steepest since the 1970s.
The number of houses changing hands has "collapsed" to the lowest level in 30 years, an influential housing market survey shows today. Its report also says that gazundering, the controversial practice of buyers dropping their offer price after they have agreed to purchase a property, has returned.
Buyers are refusing, or unable, to hand over any money to purchase a house.
"The continuing lack of demand in the housing market is reflected in the collapse in transactions," says the report."
http://globaleconomicanalysis.blogspot.com/2008/06/uk-housing-market-seizes-up.html |
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