Property prices around the world continue to decline as the financial crisis continues its way through the system. I don’t think anyone is under any illusions any more that we have not yet reached bottom. These are some headlines, although where bottom is is becoming more and more difficult to predict. With governments in disarray and it becoming clear that the banks have continued to disguise their true losses – even now. Available credit still presents a problem, and mortgage approvals are still extremely low.
According to the Irish Independent newspaper: “Tens of thousands of Irish homeowners may be facing financial meltdown as hugely hyped overseas property investments turn sour.”
