While the current credit crunch has produced a slight downturn on the real estate markets, it is not comparable to the long term downturn seen in 1979 and 1983, said Joe Valente, speaking to PropertyEU at EXPO REAL in Munich. 'The other extreme is that we see investors sitting around doing nothing for three months and then it’s back to business as usual. And that's alos wrong. The big difference this time is that we’ll three to six months of uncertainty, and moving forward it will be a case of steady as she goes,' he said.
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