Lurking 123 thanks for that useful reponse... wouldn't want people thinking anything was wrong in the UK housing market.... I stand corrected, the numbers I posted are slightly out but I stand by the conclusion being robust.
.... house prices are down 4.5% in the last 2 months alone... stick that pace of decline into your formula and see what drops out... unless it is a miraculous "turd polishing" equation you will find the same conclusion drops out the bottom.... i.e. conditions in the housing market are really really sh*t.... ask any of the 1000s of people who have been laid off by the UK housebuilders in the last week alone.
...the ability for some people to not see the wood for the trees never ceases to amaze me.... but I admire the "stiff upper lip" British approach.... reminds me of this famous sketch.... house prices down 4.5% in 2 months... tis but a flesh wound...
The Holy Grail: Scene 4
