Thursday, October 21, 2010

Rehash of same press release as previous post

House prices to fall, says Bank of England

Nothing of interest in the article, I just liked the headline and especially the fact it appears in a normally Home-Owner-Ist newspaper.

Posted by mark wadsworth @ 05:02 PM (1134 views)
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2 thoughts on “Rehash of same press release as previous post

  • We all like headlines like that here. The sad side is that anyone who is in a public sector job where cuts are going to happen are going to find getting finance of any sort very difficult. The knock on effect of public sector cuts could also be people downsizing to smaller properties, evictions or even selling up to move abroad. So there’s plenty of scope for house price falls over the next few years purely due to the cuts.

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  • stillthinking says:

    BoE are in the business of making self-fulfilling prophesies. They want house prices to fall is how I take it.

    As has been often mentioned, if you don’t let the country naturally deflate, then you will end up with strong inflation at some point. Despite King stating that there isn’t enough money in the economy, he really means that there isn’t enough money in the UK because we have been importing beyond our means for decades. This is different from insufficient money, people sitting on low yields because they are unwilling to spend or see nothing competitively priced is not from a lack of money.

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