<b></b><b>Gut feeling</b><br> While Square Mile scribblers pen detailed analyses of the effect on the UK housing market of ghastly times in America, your humble diarist suggests that we have a scenario in which gut feeling decides rather more than cold statistics and finely-argued economic logic.<p></p><p>Days after the New York disaster, Berkeley Homes was poised to launch the hugely important Woolwich Arsenal redevelopment project, which is rapidly shaping up as suburbia&amp;’s answer to Gunwharf Quays and comfortably within lunching distance for key City option-formers.</p><p>Berkeley chief Tony Pidgley senior, famed for his early reading of the market mood swings, cancelled the launch at the last minute on the assumption that potential customers will have their mind on other, more serious things. It will be interesting to see when Berkeley decides it is wise to go ahead.</p><p>Secondly, estate agents are hinting that London - for the moment, at least - emerges as a safer medium-term bet than New York. If this proves right, Wimpey&amp;’s Peter Johnson is getting into the capital in good time after all, despite analyst grumbles of &amp;“too little, too late&amp;”. What was it Napoleon said about lucky generals?</p><p>Thirdly, fund and various institutions building residential portfolios appear to be pulling …