House prices are likely to fall year on year in 2008 for the first time since the 1990s recession, but even a sharp market downturn may have only a moderate impact on the broader economy, the responses from 52 economists suggest.
Economists Survey
The results in full
Q1: What are the 3 main risks to economic stability in 2008?
Q2: How does the credit squeeze change the job of central banks?
Q3: How deep will the correction be in the housing market?
Q4: How far is it possible to ignore short-term inflationary pressures?
Q5: What needs to be donw with the public finances?
Q6: Are emerging economies the next global bubble?
Q7: To what extent will the US election affect the world economy?
Q8: Where will Northern Rock be this time next year?
2007 survey
Most believe a long-awaited correction in UK property values is on its way and 10 economists believe prices will fall more than 10 per cent from their peak before the downturn is over.
