The bearish sentiment expressed in this year’s edition of Emerging Trends does not come as a surprise, but some of the metaphors are disheartening nevertheless. This year’s report, compiled by the Urban Land Institute and PricewaterhouseCoopers, kicks off with a chapter entitled ‘Prepare for the Big Freeze’ in a stark reference to the chilly winds sweeping through the financial sector where Eurohypo and Société Générale have put property lending on ice.
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