Socialist Appeal - Honest Iago says...

Honest Iago says...

By Socialist Appeal
Tuesday, 10 June 2008
According to Seema Shah, who is a property economist at Capital Economics,"House prices have dropped by 7% since their peak at the end of 2007..." He expects a drop of 20% by the end of 2009 and that this is with "a still relatively healthy labour market." "Imagine then," says Shah, "what will happen.... once the economic downturn gathers and unemployment rises." Yes, imagine!