Things are happening faster than I thought possible.
This morning the Halifax (UK's largest mortgage lender) published its monthly house price survey results.
They have shown prices declining by 0.3% - 0.4% every month since September 2007.
For last month, March 2008, they report that UK house prices dropped 2.5% in the month. 2.5% in one month makes it the biggest monthly drop for 16 years since we were in the middle of the 1990's house price crash and recession.
Its really no longer a debate about whether there will be a HPC and a recession - its about how bad it will be.
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