"While mortgage arrears remain low and the employment situation remains strong, the lack of supply will continue to prevent large declines."
He's talking about housing, and the price of housing. This guy is so far into denial he's in another century.
This year, several company's have closed down, or had cut backs, and released employees. new laws have come into effect that workers seeking employment in the uk have new, higher, criteria to meet; this means less manual and skilled labor are coming in (the guys picking your veggies, cleaning your toilets and picking up rubbish...and your doctors). (there was a very recent scandal over manual labor from the eu - they were practically slave labor, with no way out. the review of several of these companies are now in process. if they're closed down (and from initial reports, they damn well should be) that means, even less manual workers).
26% of home owners are in the process of getting their houses repossessed, RIGHT THIS SECOND. 1 in 4 families in the uk are about to become homeless.
Banks are in lending trouble, and are not making home loans, or, have risen the bar for being able to get one. Quick legislation has infused banks with money so they don't go bust. 2 banks weren't able to get it fast enough. Rock ring a bell?
Food prices have doubled. My grocery bill is now around £100 a week, for three. 2 months ago, it was 50-60 pounds. Let's see.... buy a house, or feed my family and rent? oh, there's a no brainer. For some people right now, its not just a question of feeding the family and paying the rent or buying a house... the question is, do i feed my family or pay my rent.
"95.1% more surveyors saw house prices fall than rise in April."... <-- blinking neon clue!
"There has also been a continued fall in enquiries from prospective buyers." <-- WWII air raid sirens going off!
There's no real point to this post, except to say; wake up. We're watching america fall into a recession, and we're following their footsteps.