Demand Finally Surfaces!
Posted on 13. Mar, 2009 by Chris Lang in Economic Issues, Interest Rates, Property Cycles, Residential vs Commercial
The pent-up demand for housing serves to underline that this downturn is more like the credit squeeze of the mid-1970s, than the recession of the early 1990s.
It's principally a confidence thing.
However, the recent surge in purchases by first-home buyers confirms that with the encouragement of low interest rates and government hand-outs ... the buyers will play their part.
More importantly, the flow-on effect throughout the construction industry will give our economy a much needed lift.
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