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Advice wanted - house prices to go up or down???
Comments
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No, there are Brown's henchmen in there I'm sure, but some of the committee hopefully aren't totally corrupt. Presumably you imply they will keep the base rates low and let inflation run? This is a very real fear but it itself damages the economy and won't help push up house prices unless 1: Wages go up as well, which I doubt in a recession and 2. Lenders are prepared to lend at rates much less than inflation which seems a silly thing to do as it'll mean them losing money.You do of course believe that the BOE MPC is completely independent, don't you?
Ultimately if the BoE and government don't do the right thing markets will do it for them only by then things will be much worse.
It's heads most of us lose or tails we all lose IMO. Either way there isn't much to support significant house price rises for long at least not until our basket case economy really recovers.0 -
the answer is yes0
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