But there is a plus side
Yes, the economic cycle is a cycle, it goes in waves as some elements act on and react to other elements.
A crisis can also be an opportunity. A crisis can force you to take steps you might not otherwise have taken in order to improve things.
And if house prices are now lower, that means many more people will be able to afford to buy property and they will get more for their money.
If people or companies have got into difficulties, it's not the economic situation that's to blame. It's their own fault for taking unwise decisions and not planning ahead, including for the 'worst case scenario'.
If we were to see a decrease in the number of new apartment developments springing up all around Manchester, I wouldn't be too disappointed.
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