Wednesday, Dec 11, 2019

Generational property cascade runs into student debt

WSJ: OK Boomer, Who’s Going to Buy Your 21 Million Homes?

I wonder if this effect will be present in the UK, but you could also put this in the same box as those speculating that the global debt ponzi will fall in on itself because eventually we are all saturated with debt etc etc. House prices in the UK are different because they are ultimately always underpinned by housing benefit (unless we run out of claimants )

Posted by stillthinking @ 09:04 AM (1229 views)
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2 Comments

1. jack c said...

Selling a property is rarely a major problem if it's pitched at a realistic price. I know a group of people who bought many properties in Detroit when no one else was interested (onset of so called financial crisis). Some changed hands for 1$ but no doubt the houses pictured in the article will be expected to change hands for top dollar !

Wednesday, December 11, 2019 03:00PM Report Comment
 

2. nickb said...

@stillthinking
If UK house prices were always underpinned by housing benefit they would never fall unless hb fell would they?
It wasn't because of hb that prices fell over 25% after the financial crisis. It may be tempting to blame the housing (price) crisis on the unemployed, immigration and so on, perhaps because this fits with people's politics, but explanation in terms of credit conditions can explain price movements much better.

Wednesday, December 11, 2019 03:10PM Report Comment
 

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