Nic Cicutti writes interesting article on housing market.

In Moneymarketing.co.uk, Nic Cicutti writes an interesting article saying that some parts of the media are feeding the sense of crisis about the UK housing market. However, in May the five main house price indices showed overall a 0.6 pct fall. Yet
all media organisations focused on the 2.5 per cent reduction in the Nationwide report, which grabbed the headlines.

I agree with Mr Cicutti that we can be talking ourselves into a crisis. However, the collapse of transactions and the problems of housebuilders show that there could be sufficient pain to come. I read the capital raising documentation of Bradford & Bingley and there was too many "synthetic" this and "synthetic" that.
This is going to impact on the UK mortgage bank's shareholders and borrowers. But let's hope that Mr Cicutti is right. He is very experienced and was writing about the UK housing crash in the early 1990s.

www.searchaccountant.co.uk.