Christmas is not far away now. But the ongoing credit crunch is making life of plenty of hard working British people a misery.
It would be ok if they were not remind by every newspaper and every news channel on land how many jobs are going to go and how many companies are facing close down. And these expert ‘commentaries’ almost always lead to the house prices.
When minor experts open their mouths to make predictions, we normally switch off. But when some one no lesser than the head of Barclays, which is one of the largest banks in the world, says that house prices will be down by another 15% from now (or 35% down from their peak in Aug 2007), we are bound to take notice.
It does not help even thinking about the countless people facing loosing their homes in by lenders. And the fact that many sell and rent back companies are not operating either (due to their inability to borrow or lack of desire in this market) has left many home owners short of even the possibility of staying n their homes after selling.
We just hope that the economy recovers sooner rather than later. Although this would mean that scores of people who contact us every day to sell their homes to us would not have any need to do so. But that is OK. Not that we can help every one of them but we would rather if people are not having to sell their homes under severe financial or other type of distress.
Filed under: House Prices
