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Redrow warns housing transactions to slump further

Posted on 05 November 2010

From Reuters: Housing transactions could slump even lower if the government fails to take action over the contracting mortgage market, warned the chairman of Redrow as sales rose since July due to a shift in product mix.
The chairman and founder of Redrow, Steve Morgan, said that the mortgage situation is deteriorating as the major banks are being squeezed to repay colossal government loans, pushing overall housing transactions even lower……………………………………….Full Article: Source

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