Have you seen the powerpoint slides from this presentation that the RICS chief economist gave to a bunch of property bigwigs at Lloyds last week?
If not then I suggest you take a look but do put your tin hat on before you open them up.
The title slide is "Economic headwinds pose new threat for property sector" and here's a selection of subheads:
- Reality dawns - deleveraging will depress growth for forseeable future
- Economic expectations have deteriorated over the last month
- Consumer confidence is heading towards Jan '09 low
- In the resi sector activity remains subdued
- restricted mortgage lending is not the only problem
- pressure on the property sector will continue to grow
Now that's a question I'd pay a bundle full of francs & centimes to know the answer to.....