AlreadymanyconstructionworkersfromPolandandelsewherearereturning, partlybecausehothousingmarkets are coolingfast, partly because wagesathomehaverisen in response to Labourshortages.
There are already signs in some cities, such as London, New York and Amsterdam, that the housing market is coolingfast, but estate agents still insist that prices are unlikely to fall by much.
Yet this process could prove to be more drawn out than previously expected, and that sector of the economy is likely to see a very slow pace of disinflation in service prices, despite overall hiring coolingfast.