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If I was in the market, that very fact would stop me buying at the moment. Until we know what will happen to the massive amount of outstanding debt on the million+ unsold properties, I don’t think we know to what depths the property market could plunge? The waiting for improvement time is not infinate and debts are rising all the time which will only make matters worse. When the propery overbuild situation/debt situation reaches a conclusion then I guess more will be clear, and confidence should come back?, but how long will that take and what will the result of the fallout be?
