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31 May 2008
House Prices Start to Drop
Well, it had to happen at some point. This month the Nationwide survey shows an annual drop of 4% following the falls for the last 6 months or so since Northern Rock went pop. Given that inflation is at least 3% that's about a 7% real drop. Not bad since the ball has only just started rolling. With any luck (for us) this will keep on for a few more years until prices return to sanity.
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Housing
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