With reference to the graph about house prices, the last downturn in the previous recession didn't have our current 340,000 demand for houses that are needed for our ever growing population..."basic fundamentals." Demand is currently far outweighing supply. The reason for Persimmon, whimpy and Barretts laying employees off is purely due to the mortgage lenders. Postponing building projects is the major difference to the previous downturn as the general consensus that once the money is there the downturn will be much shorter than the previous occasions.