The housing market is likely to burst within the next few years, a prominent economist and former adviser to Gordon Brown will warn today, says the Daily Telegraph .
David Miles, chief UK economist at investment bank Morgan Stanley, has written a report arguing house price growth has been grounded in unrealistic expectations of double digit annual rises. Miles says it is only possible to explain the more than doubling of house prices in the past decade if people's demand for housing has been heavily influenced by expectations rapid price rises would continue. Once house price rises come down below expectations, Miles believes "significant" falls are likely, says the paper. COMPANIES WILL find it easier to move their registered offices anywhere ...
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