The governor of the Bank of England, Mark Carney, has warned ministers that house prices could crash by more than a third in the event of a disorderly, no-deal Brexit.
Unionists ridicule “the Cult” for ignoring overwhelming evidence that independence would be an economic disaster. Simultaneously, unionists ignore overwhelming evidence that Brexit will be an economic disaster.
The governor is playing safe. It was the post-crash monetary policy that helped push up the price of assets such as housing. With or without Brexit, the housing market is overdue a very considerable correction. The slide in prices has already started in London where the boom began and will likely spread to regions that have seen the most price inflation. Property prices are also on the slide in Italy, which is not leaving the EU.
Property prices are on the slide across France too, mainly as a result of so many British property owners looking to return to the UK.
“Could” means absolutely nothing. At best he is covering his position. It sounds like his political masters have asked for him to back the Chequers deal in exchange for keeping his job tbh.
Damian Thirsty Absolutely spot-on, sir. He’s doing what he’s paid to do: let government see the possible outcomes of a no-deal; however, Project Mushroom would rather the lights were kept off and the good people of the UK continue to be fed shoot. Brexit is not going to happen, the lights are coming on, we will have Euref2.
Oil is a Bonus King of the remoaners strikes again. Can’t believe they are keeping him on as he continues to cause financial fluctuations with his misleading interference in politics. Why would house prices crash in the UK if we were to leave the EU? We are the biggest mortgage user in the EU and all the banks here have subsidiaries in most EU countries which will remain open. Our base rate is more linked to the US than the EU. Another scare story.