Tuesday, Nov 10, 2009
Skating on thin ice - implications for measuring HPC
Bloomberg: Pound Falls After Fitch Says U.K.’s Credit Rating Most at Risk
This is not directly about HPC but is germane in the recent atmosphere of despondency and metaphysical anguish for HPC bears. UK house prices can only be nominally raised by policies that devalue sterling. Even assuming that UK house prices are at 2007 levels in sterling terms, they are down around 20% when measured vs the Euro or USD, or 40% when measured vs the JPY. The discussion is warped by exclusively considering what's happening in terms of sterling. The answer for those saving for a deposit seems pretty obvious...
Posted by a solovine @ 09:49 AM (232 views) Add Comment
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