Why it’s a bad time to be an estate agent

The US arm of estate agents Foxtons is on the verge of Chapter 11 bankruptcy. And things are looking little better over here, despite claims that 'strong fundamentals' will avert a house price crash.

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When Jon Hunt, founder of Foxtons, sold the UK arm of the business for £390m earlier this year, it looked like the canny property entrepreneur had sold at just the right time.

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