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We are living through extraordinary times. It feels as though we are sailing through a perfect storm. Where the economy, politics and social responsibility are all converging and feeding off each other to compound and enlarge the crises.
During this time the problems in housing supply are having very little done to rectify shortfalls. The Homes & Communities Agency are starting to push ahead an agenda to address. But this will undoubtedly take time. Time we don’t have, since statistics start showing already that house prices are not falling back in line with the decimation of commercial property.
We have a strange dichotomy of prices appearing to rise again and developers struggling to shift stock.
My biggest fear at the present is that we could see a compounding of the longevity of the depression as we lurch along from dead cat bounce to dead cat bounce. What makes this a real prospect is the sheer scale of property company refinancing coming up over the next 9 months.
It feels like we are in a game of snakes and ladders and there is way more snakes on the board!
08 Jun 2009 09:54:54