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Poll shows house price gloom
MOST people expect the housing market downturn to continue until at least the end of 2010, research out today claims.
Only 21 per cent of consumers think the housing market will bounce back before the end of 2009, with almost half predicting a recovery by the close of next year, according to a survey by price comparison site uSwitch.com.
Most people remain pessimistic about the prospects of a recovery from the recession, which only 13 per cent believe will be over by the end of this year. A further 12 per cent think it will end by next March and a similar proportion expect unemployment to continue rising into 2011.
The research also found that 51 per cent of consumers place the blame for the recession at the door of UK and American banks, with a quarter holding the UK government responsible. One in ten believes excessive consumer spending and borrowing to be the chief cause of the recession.
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Friday 25 May 2012
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