there isn't going to be a consumer led recovery because the average middle class joe has less and less disposable income with each passing month/ quarter/ year
unless there is another false housing boom fuelled by borrowing that people can't actually afford which seems unlikely in the extreme under the circumstances
house prices in my area continue to fall due to a lack of buyers which is exacerbated by strict lending criteria, unrealistic valuations which fail to be met in the survey and a change in attitude towards home ownership amongst the young caused by student debt and the inaffordability of decent homes meaning that chains cannot be formed from the ground up
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