Wednesday, April 30, 2008
Nationwide and Blanchflower
Posted by David Smith at 09:45 AM
Category: Thoughts and responses

The Nationwide Building Society reported that house prices fell by 1.1% in April and were down by 1% on a year earlier, the first year-on-year fall on its index since 1996. The shift from 10.2% house-price inflation in April last year has been abrupt. Details here. Also, a doom-laden speech from monetary policy committee member David Blanchflower, warning that house prices could fall by a third and that interest rates need to be slashed to head off a UK recession. The speech is here.