Apparently Moodys credit rating agency thinks the UK commercial property market has a further 25% to fall.
This opinion is the exact opposite to my prediction of a bullish run. Imagine if the 25 million pounds worth of property deals in Edinburgh I posted yesterday were 25% over the odds!
Having said that the credit rating agencies don´t always get in right, didn´t they give these bundled mortgage securities triple A ratings, when some of them contained more toxicity than Chernobyl.
I still stand by predictions, we´ll see who is closer to the mark later this year.
Wednesday, January 28, 2009
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