Friday, Feb 29, 2008
Price of stuff and houses in the past
HBOS Plc: GENERAL ELECTIONS AND HOUSE PRICES
Doc showing the average cost of things including houses, bread etc when various Governments were elected and during their reign. The not so interesting John Major did a very good job of keep bread prices under control, a loaf rising by 1p from 51p to 52p during his tenure. House prices also fell for the first 4 years he was in power, having also fallen in the last year of Mrs Thatcher. In the same year Major took power (1990) beer was only £1.14 a pint.
The real Champion house price demolition expert was Harold Wilson. In real terms, he knocked 13% off house prices, and although the nominal increase was 7% at a time when wages were going up at 20%. This time wages are not going up anything like that, so expect nominal falls -ie prices lower without accounting for inflation.
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