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Posted: Sun Aug 24, 2008 12:10 am
by debtmountain
Just read today that Halifax Estate Agents are closing 53 of their Branches due to the property slump, stating that the cuts came as a rival warned that the Housing Market would stagnate until 2010.
Posted: Sun Aug 24, 2008 12:15 am
by Kazzy E
Shame for the poor people losing their jobs, but the estate agents forget about the money they raked in during the housing boom. What goes around....... Kazzy x
Posted: Sun Aug 24, 2008 12:23 am
by debtmountain
Exactly, Kazzy. Sadly, more Redundancys will follow no doubt from other Estate Agents as well.
More Gloom[:(]
Posted: Sun Aug 24, 2008 1:26 am
by Emily
With an estimated 6 - 8 yrs before normality ignites the housing market, 100 of their branches should close....buying a property only to be told later on that it is worth less since but you still own the Bank the full balance just don't make sense!!
Posted: Sun Aug 24, 2008 3:34 pm
by kallis3
Not surprised. There are five houses for sale in the small development I live in. They have been for sale for varying amounts of time, but are not moving and I don't expect them to.
A couple of houses nearby which were bought last year before the market hit the skids, have since been taken off the market. They are all going to be in negative equity.
I've been there once (the 90's) I never want to be there again.