A couple of high profile, well known house builders have recently had to slash their workforce by around 40% as a result of the housing market, which has all but ground to a halt due to lack of property sales and plummeting house prices. Property sales have now plummeted because many people are unable to get a mortgage in the current financial climate, with lenders tightening up on their lending criteria, and many others do not want to buy property in case the value continues to fall. (more…)
