Why have housing transactions been so weak?

Article Abstract:

Real estate transactions in England and Wales fell in 1st half 1998 after a rise of 16% for 1997. A drop of 6% is likely for 1998 compared to 1997. Transactions tend to rise when prices rise, and this has not occurred. Labor mobility could be affected when transaction levels are low, though younger people tend to be more mobile, and fewer young people became owner-occupiers in the 1990s. Prices fell slowly in the early 1990s recession, and this pushed down the level of transactions. Sellers may have been reluctant to accept slower price growth in 1998, leading to a lower transaction level. This could change, with lower house price inflation boosting transactions, though an economic downturn would depress transaction levels.

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Is the housing market set to fall?

Article Abstract:

Trends in the British housing market are examined in detail, with an assessment of chances for a drop in prices, with regional variations taken into account.

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Why do mortgage markets matter?

Article Abstract:

The impact of mortgages in Britain on national housing market cycles, regional differences in house prices, and consumer behavior and aggregate savings.

Commercial Banks, Mortgage and Nonmortgage Loan Brokers, Consumer Mortgage Loans, Mortgages

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