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we've gone through plenty of recessions in the past and came through them and this will be no different, granted this looks like it's going to be a very bumpy ride. the banks will stabilise eventually and start lending again and the housing market will recover. the last time property crashed interest rates were at about 15% and mortgages became unaffordable, this time they're just reluctant to lend but interest rates are at there lowest since records began. but there's still a need for housing.
as far as the pound being weak, this may be helpful for the short term, it makes our exports the cheapest in europe and that might help kickstart the ecconomy.
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