House Prices Falling Fastest For 30 years

The video discusses the declining housing market in the northwest, highlighting challenges for first-time buyers due to falling house prices and a credit crisis. It covers the impact of reduced mortgage availability and government efforts to address the credit crunch. The economic effects are also felt in retail, with falling sales despite rising prices, indicating a potential recession.

What is the main concern for first-time home buyers in the current market?

• Finding a home in a good neighborhood

• Securing a mortgage with low interest rates

• Ensuring the property will increase in value

• Locating a home with modern amenities

How did the credit crisis affect Ben Barker's ability to purchase a home?

• He was able to secure a 100% mortgage

• He had to rely on his parents for a deposit

• He found a better mortgage deal

• He decided to rent instead

What action is the Prime Minister taking to address the credit crunch?

• Increasing taxes on luxury goods

• Discussing solutions with major mortgage lenders

• Meeting with international leaders

• Reducing government spending

What does the Bank of England propose to help alleviate the credit crisis?

• Supply more liquidity to the market

• Increase interest rates

• Reduce the number of loans

• Close smaller banks

What trend did the British Retail Consortium report regarding retail sales?

• Sales remained stable compared to last year

• Sales fell for the first time in two years

• Sales increased due to holiday shopping

• Sales surged due to online shopping