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Article: Housing market bubble has burst - Cable.
- Article from:
- M2 Presswire
- Article date:
- April 30, 2008
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M2 PRESSWIRE-30 April 2008-Liberal Democrats: Housing market bubble has burst - Cable(C)1994-2008 M2 COMMUNICATIONS LTD
RDATE:30042008
Commenting on today's Nationwide housing figures, which show the first annual fall in house prices since 1996, Liberal Democrat Shadow Chancellor, Vince Cable said:
"It is clear that the bubble in the housing market has burst.
"With prices falling rapidly, the Government's hope that house prices would merely see a gentle correction now seem extremely optimistic.
Responding to MPC member David Blanchflower's comments that house prices could fall by 30% and that the country faced a real risk of recession, Dr Cable said:
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