Warning Signs Flash of Second Slump in Housing Market
Scotland on Sunday › November 23, 2009
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Summary
WHEN the UK's biggest building society warns of setbacks ahead in the housing market, we should sit up and listen. When the warning coincides with news pointing to a second-wave slump in the world's biggest housing market, we should listen very carefully indeed.
For the past few months, commentators have been happy to pick up on the upbeat house price numbers from the Nationwide. Its latest survey said house prices in October were 2 per cent higher than a year earlier - the first annual rise for 19 months.See the full content of this document
Extract
Warning Signs Flash of Second Slump in Housing Market
We sighed with relief over these house price performance numbers. Not only did the slump in the housing market appear to be over, but the great plunge in house prices also looked to have been avoided.
But can we be certain? The latest statement from Nationwide is not so reassuring...See the full content of this document
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