| From Fly-2let.co.uk: With house prices falling across all European markets by the end of 2008 and prospects for 2009 even gloomier, the revival of European housing relies now on the ability of European governments to cope with the mortgage credit shortage and on the scale and duration of the economic recession, says the RICS European Housing Review 2009, published at the beginning or March.
Significant reductions in mortgage lending, due to the credit crunch, coupled with the global economic downturn, have depressed demand for residential property in Europe.....Full Article: Source |