Can the government save the housing market
By Chris Gilchrist 07th March
2008
Yet another top economist says house prices will fall by 30% unless the government
does something. And they know what they need to do. But will they do it?
UK mortgage approvals fell for the fourteenth month in a row in June to a new low
of 36,000. First-time buyers are pretty well frozen out of the market. Higher requirements
for deposits, stiffer 'affordability' tests and higher interest rates are together
deterring potential buyers.
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