LONDON — Once upon a time, a former storage room the size of a walk-in closet went on the market in London's exclusive Knightsbridge neighborhood for $335,000. With only 77 square feet and no electricity, the dilapidated "home" drew multiple offers.
Those were the heady days of a year ago, when property sellers and their agents could pretty much name their price.
But now, home prices are slumping and fears of a recession in Britain next year are rising.
