| From Property Wire: Trying to predict property prices in the UK in the short term is futile in the current economic turmoil, according to the country's trade association for mortgage lending industry. The Council of Mortgage Lenders has admitted that its May forecast of a 7% fall this year is wide of the mark and says it does not expect the market to recover from its current slump before 2010.
It is now abandoning attempts to predict house price movements because of the uncertainties that surround the market. Its members account for 98% of residential mortgages in the UK..... Full Article: Source
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