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Housing Wealth Vs Spending Cuts

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A difficult question to frame - so I am as interested in different ways to frame the question as well as answers.

The principal assumption is that we have committed an excessive amount of wealth into housing over the last 20 - 30 yrs. To simplify the question however I suggest taking the starting point from after the last bust (ie the 90's) - from the last point that house-prices are considered to be neither too expensive or too cheap.

1. What is the 'excess' of wealth tied up in houses that could have been feeding the economy

Of course you could counter-argue that MEW has been feeding the economy...

2. What would have been the effect on the economy, and our general ability to cope with the current crisis if this had not been spent on 'property' ?

Tricky one as the current crisis was partly due to our obsession with property, and where could/should the money have gone ?...

3. How does this roughly compare to the (range) of spending cuts deemed necessary ?

An annoying question - as if a magic windfall tax on property could wish our economic woes away...

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  • 259 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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