Since the dot com boom ended in 2000, investors have done well in the property market. But things are changing. Persimmon, one of the nation’s top house-builders, has just frozen all plans for future projects and warned that new homes built in the UK this year could drop by nearly a third due to the “unprecedented” mortgage famine.
A good time to switch to the technology market or to keep liquid and buy at the bottom of the property market? So many people make their living from the property and building industries, tough times could be ahead for many, not just employees of Northern Rock. Let us hope that the entrepreneurs turn their hand from sand to silica.
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