Thursday, December 17, 2009
Property booming on wednesday then stagnating on thursday
House price rally began to slow in October
British house prices rose by another half a per cent in October from the previous month, bringing the UK average price to £198,450 - just 2.2 per cent below where they were a year ago, according to the latest official figures.
Posted by matt_the_hat @ 10:14 AM (1058 views)
One thought on “Property booming on wednesday then stagnating on thursday”
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stillthinking says:
I read this comment by George somewhere else,
“With annual government borrowing at £200 billion pounds, this equates to 8 million average (£25k py) pay jobs being funded with borrowed money that is even greater than the 6 million public sector jobs and indicating that the whole economy is now dependant on government borrowing. And this does not even take into consideration what the government funds with its tax revenues excluding this borrowing. ”
This spending will stop one way or another. What chance does a rally in houses have against the effective withdrawal of 8 million jobs?