Tuesday, 22 April 2008

Rear Mirror : Housing and Economy

"The outlook for the Finnish building sector still looks positive, concluded a statement by the Confederation of Finnish Construction Industries (RT)."

"RT expects the construction industry to grow by four per cent this year, even though there will be a ten per cent reduction in new housing projects."

"However, the reduction in new projects will be reflected in the figures for 2009, when the construction industry growth rate is expected to fall to 1.5 per cent."

After Nordea, now the Construction Industries are warning of a sharp slowdown in 2009. what you are currently seeing is the image of the rear mirror, that shows a booming economy. In the current and forward view, the economy and housing are slowing down and will even further in 2009-2010.

The housing growth is something from the past or an image of that rear mirror and if you look carefully you will see reverted growth...that's the forward forecast.

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