Housing market recovery 18 months away

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Housing market recovery 18 months away

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09-08-2008, 10:19 PM

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Housing market recovery 18 months away

The chief executive of HBOS, which owns Halifax, the UK’s largest mortgage lender, has warned that house prices are unlikely to begin a recovery before 2010. According to Andy Hornby, confidence in Britain’s housing market will not return until banks can raise significant sums on the wholesale financial markets. In addition, house price deflation could be stronger [...]

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