Azara Blog: Surprise, house building in the UK has gone over a cliff

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Date published: 2008/06/14

The BBC says:

The number of new homes built this year will be under half that promised by Prime Minister Gordon Brown, the House Builders Association has said.

The body says only 110,000 are likely to be built by end of this year, far short of Mr Brown's target of 240,000. That could fall to just 80,000 in 2009.

The association said the construction industry was facing its toughest time since the 1930s.

All pretty obvious (although the quantification is worthwhile) and all pretty grim. This is what happens at the end of a speculative bubble.

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