Wednesday, 2 January 2008
2008, The Year Of The Tsunami?
"A slowdown rather than an outright recession is likely,'' said former Bank of England policy maker Willem Buiter, speaking in an interview on BBC Radio 4 today. "We're talking about the need to have a significant correction in the housing market and in the financial sector. That will be painful. That will be unpleasant. It will not be a disaster.''
Coming from a former Bank of England policy maker, it carries some weight, it stamps further the assumptions that 2008 will see a "nasty" correction for the UK Market.
For Finland, you just have to be aware of many signs that are highlighting the cracks that start to appear... like a mild earthquake announcing a tsunami to come... Real estate agents will demonstrate you that you can still sing and dance on the beach. You have been warned. I would advise to find a cover, a high spot and just watch the ravage unfold.... Right let's first try to save as many as we can, after all that's what this blog is all about.... Happy New Year!
Related: UK House Price Declining , Finnish House Price Declining , Housing builders