Nowadays, everyone knows the economy has seen better days, certainly because the effects of the approaching recession are noticeable everywhere, especially in the mortgage market. Because of the crisis, people like to wait rather than to borrow and buy a house immediately, which results in a demand for houses that is going down, and so are the house prices. In August, there was already a record low of people who borrowed money to purchase a house and the average value of loans is also decreasing, which means a drop of 42% of the total value of mortgage compared to August 2007. As the house market is on the decline, it will be difficult to regain the confidence of prospective buyers and improve the number of mortgages again.
Bieke Clicque
dinsdag 14 oktober 2008
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Nowadays, everyone knows the economy has seen better days, certainly because the effects of the approaching recession are noticeable everywhere, especially in the mortgage market. Because of the crisis, people like to wait rather than to borrow and buy a house immediately, which results in a demand for houses that is going down [in this rather long sentence, you can reduce this part by saying: ... resulting in lower demand and lower prices.] and so are the house prices. In August, there was already [there already was] a record low of people who borrowed money to purchase a house and the average value of loans is also decreasing, which means a drop of 42% of the total value of mortgage [mortgages] compared to August 2007. As the house market [housing/real estate market] is on the decline, it will be difficult to regain the confidence of prospective buyers and improve the number of mortgages again.
Good focus but flow could improve by inserting a shorter sentence: this makes the text easier to read.
olaf
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