ESRI’s gloomy outlook may have a bright side

THE ESRI says we are about to experience a major slump in house prices.

Would this be the same ESRI that predicted a 16% fall in house prices in 2002, with a moderate rise during 2003. That report was released on September 28, 2001.

Their report issued on the same date this year also predicts job losses on a relatively large scale in the house-building sector.