Monday, September 7, 2015
Is the tide starting to turn?
According to the FT, a recent international survey by ING found that nearly three-quarters of European consumers believe that Â“a fall in house prices would benefit societyÂ”. WhatÂ’s particularly interesting is that it wasnÂ’t just renters who thought so. More than two-thirds of European homeowners Â– whose net wealth would presumably be threatened by falling prices Â– agreed too. Looking at the figures in more detail, nearly 60% of British homeowners and nearly 80% of renters thought a drop in prices would be a good thing.This is yet another sign that the political mood music is changing.' Yeah, I know, Moneyweek have called it wrong on HPC before but maybe this time... Just checked the Edinburgh market and saw many reduced prices, mainly quite small but some up to 16%.