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dothemaths

House Prices: Heading South

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Let us start with two propositions. First, house prices are going down. And second, that is a very good thing.

Contrary to what you might read in some newspapers, falling house prices would be a blessing. The house bubble of the noughties has handed billions of pounds to the older generation from young people who have had to take on giant mortgages to buy their homes. That was unsafe both for the purchasers and for the wider economy. But runaway prices also served to reinforce the wealth gap as rich parents were able to bung their kids big deposits, while middle- and working-class children got no such leg-up. An end to that unfair, unsafe regime can only be a good thing.

http://www.guardian....rices-editorial

Bears - how mainstream can you get.

Edited by dothemaths

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Pity they didn't say this kind of stuff 5-7 years ago. I seem to remember the Guardian regularly carrying "Let's move to some undiscovered place and ramp up the prices so the local can't buy anymore" type articles. In fact it was one of the reasons I stopped buying it.

Still good in that they are now reflecting what the herd is starting to tell themselves.

Edited by greencat

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  • 153 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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