Housing crash is the fault of a bloke down the pub Saturday, November 17, 2007
Harry Hill who is the Chairman of the Countrywide, which is the UK's biggest chain of estate agents, was quoted in today's Financial Times as saying
"Mr Average is just seeing this maelstrom of new going around in his head, most of which isn't very good. Even if he foes to buy a house, he goes to the pub and half his mates say he must be mental. So he rings (us) up and changes his mind (about the purchase of a house he agreed to)"
So you see, the bloke in the pub is the real cause of the downturn in the housing market - if he kept his mouth shut things would be fine. Instead, his negativity is hitting Countrywide and prompting branch closures in the group which was only taken private last May for £1bn but which has since reported falling sales and turnover.