With the UK on the verge of a recession the number of houses sold is likely to be at its lowest level for 30 years! Which is 30% lower then last years, according to a housing expert. The Council of Mortgage lenders is predicting a 7% fall in prices in 2008. Houses are staying on the market for longer and owners have to lower their asking prices it’s a buyers market and many buyers are waiting it out for the estimated high drop. If you put your house on the market today there is a one in 5 chance of selling it. No-one likes those odds. One man said that he had to lower his asking price by 10% because of the lack of interest in his house. All this only reinforces the ideas of us falling into recession; I believe we are already there.
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