Credit Crunch Reality
25-06-2008
The average decrease on house prices in the UK is estimated at around £15,000 this year alone, the inevitable price deflation within the housing market has not gone unnoticed least of all by employees contributing to the construction of new properties transpiring negative energy throughout building sites across the UK, with builders even resorting to mothballing sites rather than starting work. Our economic position hinges mainly on oil prices which having reached nearly $140 a barrel earlier this month, now trading at $133. Is this constant fluctuation in oil prices driven by hedge fund speculation? We will never know, however the possibility of our slowing economy may result in driving the price of oil down but only time will tell.
We may have slight control over the occurring problems within the UK's economy via wage levels, where the strain for matching increases with the rate of inflation will become increasingly harder within both the public and private sectors.