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Guest Winners and Losers

Boom, Bust

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Guest Winners and Losers


This article is from August 2005, but let us remember that the boom started earlier in Australia. Raises some interesting points that could now been seen as relative to the UK.

"WHEN John Howard romped home in last year's election, the know-alls professed no surprise. The value of people's homes had been soaring - why on earth would they be in a mood to toss out the Government?

Well, yes, I'm sure that had a lot to do with it. But as we watch the housing boom now subside, we'll soon come to view it with a more jaundiced eye. We'll be a long time recovering from that blow-out of a party.

And we'll find it easier to accept one of the lesser-known conclusions of economics, that we've fallen for a giant financial illusion. That a doubling in the value of our homes doesn't really make us any wealthier.

Find that hard to swallow? Well, let's think about what it was that caused the prices of homes to rise so far."




Love this one! On the latest news page it says 'coming soon'.

Edited by Winners and Losers

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  • 308 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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