UK: Buyers' Strike

[CelloPoint]

bloomberg.com/apps/news?pid= … refer=home

Bank of England Governor Mervyn King predicted this month that property values are "likely to fall further’’ and said there is a risk that the U.K. economy may contract. The construction industry dragged down economic growth to the slowest pace since 2005 in the first quarter and homebuilders are cutting tens of thousands of jobs.

I shudder to think what a “sellers’ strike” would be like

Oh wait, the sellers are on strike too…

Maybe the CIF can massage some reluctant hands back into wallets?

[naughton]

Look at the 2 videos about British/English market

news.bbc.co.uk/2/hi/business/7387719.stm