Blog
The Cracks are Widening
6th July 2008
It is a potent cocktail
Collapsing mortgage supply Sharp fall in demand for home loans A significant decline in average house prices with the prospect of more to come Distressed homebuilders announcing very large job losses A precipitous fall in land values raising fears of bankruptcy among some of our leading home-builders
The tipping point has been well and truly reached .... this housing recession is going to be very deep and - in the absence of some favourable external headwinds or imaginative and decisive policy intervention from a government that has long since lost momentum and credibility - the knock-on effects on the wider economy are likely to be widespread.
The Observer Homebuilders face disastrous £3bn landslide
Sunday Times Falling into the abyss?
The Guardian From building sites to sofas, the crisis starts to hit home
The Telegraph Is the UK economy headed for a recession?
The Telegraph (Roger Bootle) The signs of a recession are all here
Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.