FTAdviser.com - Housing market is 'disappointingly sluggish'
The housing market will stay stagnant for the next two to three years due to supply and liquidity issues, senior market figures said at today's (14 April) HSBC Great Housing Market Debate.
Dennis Turner, chief economist at HSBC, said he was confused about the current state of the housing market, which he described as "disappointingly sluggish".
"For a long-time we've been using house price to earnings ratio that are very high. We need to look at affordability.
"Why isn't the housing market responding to macroeconomics? There is uncertainty about interest rates, employment and banks. The supply of mortgages will act as a dampener, house prices won't go up this year."
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