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  • #16
    Originally posted by revdev View Post
    This isn't about "days to sell" or "lack of housing stock" or "low interest rates"...it's about real people trying to hang on to their jobs, their home, feed their families or pay the rent.

    IMHO, still a long way for this to unwind. Cash and cashflow people.

    And as gauche as it is to quote oneself, here's a comment from my latest (18 June 09) commentary...

    SOME PEOPLE (including some who've made a living peddling property to others) seem to be just learning, or didn't appear to fully realise that a property slump is NOT a separate incident from a general economic slump. The reason property sales volumes and values fall isn't because a hand on some big cosmic clock ticks over to 'SLUMP' -- it's all intimately related to the economic cycle... the world economic cycle. How does that affect commercial landlords? Well, bearing in mind I'm not an economist's elbow, here goes:

    As job losses and company closures occur (each redundancy and collapse heralded in the news), and investment finance firms collapse, funds get frozen and banks turn harsh and stoney-faced, people's confidence fractures.

    As each hammer blow strikes, they hold back more and more on purchases, businesses retrench or delay expansion and hunker down. Less shopping translates into less business, which affects retailers, manufacturers, importers, and the various elements up and down the economic food chain -- including commercial landlords. ...
    Link to the full article here
    Peter Aranyi
    Blog: www.ThePaepae.com