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Wednesday, 15th October 2008

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Bill Jamieson: Prepare to make do and mend as era of retrenchment dawns



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Published Date: 13 June 2008
By Bill Jamieson
EITHER something has gone wrong – very wrong – with the signalling mechanism of markets, or we are heading for an era-changing slump in the property market and our economic fortunes.
Which is it? Today we seem to be caught in an eerie space between two sharply different worlds: the world of everyday life where there is little sign of a severe downturn, and the world of markets, where confidence has collapsed and forecasts of the ...



The full article contains 1053 words and appears in The Scotsman newspaper.
Page 1 of 1

  • Last Updated: 12 June 2008 9:10 PM
  • Source: The Scotsman
  • Location: Edinburgh
  • Related Topics: Bill Jamieson
 
1

Neil,

Glasgow 13/06/2008 18:30:54
Houses ARE overvalued - not in terms of demand but of what they should cost to produce. Most of the cost of houses is government "planning" restrictions. I have no sympathy with banks which have known this for grnerations but high prices meant people borowing more from them. More sympathy for the taxpayer who seems to be expected to bail out all these banks. Better to let them go bust & shake out the mess.

Technology continues to progress apace (& could go much faster if government would let it). It is merely a paper crash which means it need not much affect real productivity unless we let it.

 

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