Prop­erty fears

The Scotsman - - Picture Gallery -

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.

Pax Vo­bis­cum

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.

Arch Stain­ton

“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.


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