The Cracks are Widening

It is a potent cocktail

Collapsing mortgage supply
Sharp fall in demand for home loans
A significant decline in average house prices with the prospect of more to come
Distressed homebuilders announcing very large job losses
A precipitous fall in land values raising fears of bankruptcy among some of our leading home-builders

The tipping point has been well and truly reached .... this housing recession is going to be very deep and - in the absence of some favourable external headwinds or imaginative and decisive policy intervention from a government that has long since lost momentum and credibility - the knock-on effects on the wider economy are likely to be widespread.

The Observer
Homebuilders face disastrous £3bn landslide

Sunday Times
Falling into the abyss?

The Guardian
From building sites to sofas, the crisis starts to hit home

The Telegraph
Is the UK economy headed for a recession?

The Telegraph (Roger Bootle)
The signs of a recession are all here

Unit 2 Macro: Cyclical and Structural Economic Issues Facing the UK [23 May 2012]
Unit 2 Macro: Migration and the UK Economy [20 May 2012]
Unit 2 Macro: Positive and Negative Multiplier Effects [20 May 2012]
Unit 2 Macro: The Importance of Productivity [20 May 2012]
Unit 2 Macro: Measuring Inflation in the UK [20 May 2012]
Q&A: What do we need to know about output gaps? [20 May 2012]
Unit 2 Macro: The Output Gap [20 May 2012]
Revision notes on unemployment [20 May 2012]
Grexit - Andrew Balls on Greece and the Euro [16 May 2012]
Unit 1 Micro: Poverty and Inequality and Market Failure [12 May 2012]
Unit 2 Macro: Revision Notes on Supply-side Policies [10 May 2012]
Unit 1 Micro: Revision Blogs on Markets and Intervention [10 May 2012]
Unit 2 Macro: Unemployment Glossary [5 May 2012]
Unit 2 Macro: Economic Cycle Glossary [5 May 2012]
Unit 2 Macro: Aggregate Demand Glossary [5 May 2012]
Macro Revision - Key Statistics on the UK Economy [4 May 2012]
Macro Revision: Putting Things in Context [29 Apr 2012]
Unit 2 Macro: Britain back in Recession [29 Apr 2012]
Unit 4 Macro: The Euro Zone Crisis (Revision) [22 Apr 2012]
Unit 2 Macro: Skills Shortages Hold Back Recovery [12 Apr 2012]
Unit 2 Macro: How the Economic Cycle affects Businesses [6 Apr 2012]
Unit 4 Macro: Pain in Spain as Fiscal Austerity Bites [1 Apr 2012]
Unit 1 Micro: Revision on Maximum Rents in Housing [1 Apr 2012]
Unit 2 Macro: Revision on Capital Investment [30 Mar 2012]
Intergenerational Equity - Fairness and the Slump [28 Mar 2012]
Life in the Slow Lane - UK Growth in 2011 Lags the Euro Area [28 Mar 2012]
George Buckley at the Millfield Economics Society [28 Mar 2012]
Unit 1 Micro: The Tax on Beer [16 Mar 2012]
Unit 1 Micro: Inequality - The Rise of Fuel Poverty [15 Mar 2012]
Unit 1 Micro: Government launches New Buy Loan Guarantee Scheme [12 Mar 2012]
Unit 2 Macro: Policies to Drive Economic Recovery [9 Mar 2012]
Unit 2 Macro: Might Oil Prices Bring another Recession? [4 Mar 2012]
Unit 4 Macro: King on the UK Economy [15 Feb 2012]
Unit 4 Macro: Money, Debt and the New World Order [22 Jan 2012]
Unit 4 Macro: Economics of Fiscal Deficit Reduction [12 Jan 2012]
Unit 2 Macro: Factors Driving Business Investment [10 Jan 2012]
2011 in Review - The US Economy [27 Dec 2011]
Unit 2 Macro: The UK Housing Market in 2011 [26 Dec 2011]
Unit 4 Macro: The Rise in Self Employment [17 Dec 2011]
Unit 1 Micro: Empty Housing and Economic Efficiency [15 Dec 2011]
Unit 4 Macro: Does UK Manufacturing have a Future? [30 Nov 2011]
Behavioural Economics: Herd Behaviour [28 Nov 2011]
Where is the UK Economy? National Output [22 Nov 2011]
AS Macro: The State of British Business [13 Nov 2011]
Unit 2 Macro: Video Clips on Unemployment [6 Nov 2011]
Unit 3 Micro: Impulses to Change Management Models [5 Nov 2011]
UK Unemployment in October 2011 [12 Oct 2011]
Unit 4 Macro: Unit Labour Costs and Inflation [12 Oct 2011]
Unit 2 Macro: UK suffers a weak recovery [12 Oct 2011]
Why Is Macroeconomics Such A Mess? [11 Oct 2011]
Unit 4 Macro: Greek Economy at Default’s Door [25 Sep 2011]
Unit 4 Macro: IMF Flags up Risks of Double Dip [20 Sep 2011]
Unit 2 Macro: Income and Wealth in the UK [12 Sep 2011]
UK Macro: Risks of a Double Dip Recession [12 Sep 2011]
Starter Video: The Slums of Manilla [11 Sep 2011]
Mixing with the Nobel Economists [4 Sep 2011]
Unit 4 Macro: GDP per person since the credit crunch [19 Aug 2011]
What might happen on August 2nd? [12 Jul 2011]
Unit 4 Macro: Dangers of High Inflation [11 Jul 2011]
Unit 2 Macro: Reducing Unemployment after a Recession [11 Jul 2011]
Unit 1 Micro: FirstBuy, Affordability and Effective Demand in Property [10 Jul 2011]
AQA ECON4 Context [20 Jun 2011]
Chinese inward investment in the London property market [12 Jun 2011]
A2 Macro: Consumer Spending [30 May 2011]
AQA Macro: Remember to revise inflation [25 May 2011]
AS Macro Key Term: Deflation [24 May 2011]
AS Macro Key Term: Trend Growth [23 May 2011]
AS Macro Key Term: Economic Recovery [23 May 2011]
AS Macro Key Term: Recession [23 May 2011]
A2 Micro: The Importance of Profit [19 May 2011]
A2 Micro: Innovation and Economic Policies [18 May 2011]
UK Economy Update: What Mervyn Said [11 May 2011]
Interest Rates Held at 0.5% once again [5 May 2011]
AS Macro: Extended House Price Deflation? [5 May 2011]
A2 Micro: Innovation in Markets [4 May 2011]
AS and A2 Macro Revision: Keynesian Economics [28 Apr 2011]
A2 Micro: EU Aviation - State Aid and State Ownership [28 Apr 2011]
AS Micro: Importance of Elasticity of Supply [23 Apr 2011]
A2 Macro: Back to Roubini - a Year On! [11 Apr 2011]
AS Micro: Prices for New and Second Hand Cars [9 Apr 2011]
AS Macro Key Term: Double-Dip Recession [8 Apr 2011]
ECB breaks rank and raises interest rates [7 Apr 2011]
AS Macro Key Term: Under-employment [7 Apr 2011]
AS Macro Key Term: Fiscal Austerity [6 Apr 2011]
Focus on Poland [5 Apr 2011]
Tracking the effects of the recession on GDP [5 Apr 2011]
AS Macro Key Term: Expansionary Monetary Policy [4 Apr 2011]
AS Macro Key Term: Bubble [4 Apr 2011]
Timetric: Unemployment in the US Economy [1 Apr 2011]
The Scale of Remittances [1 Apr 2011]
The New North - Population Shift [23 Mar 2011]
Timetric: Mortgage Lending and Mortgage Rates [14 Mar 2011]
AS Macro Revision: Investment Spending [12 Mar 2011]
Timetric: Part Time Working in the UK [11 Mar 2011]
Delboy explains the multiplier effect [11 Mar 2011]
Timetric: Total Employment in the UK Economy [10 Mar 2011]
Ireland - Mass Unemployment and Shrinking GDP [10 Mar 2011]
Timetric: Income Tax and VAT Revenues [8 Mar 2011]
Timetric: Research and Development in the UK [7 Mar 2011]
A virtuous circle of recovery - Paul Krugman [6 Mar 2011]

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