Sunday, 8 May 2016

Georgon Osbrown on top form

Emailed in by MBK from The Telegraph:

"We're doing the work on it now but the emerging Treasury analysis backs up what you are hearing from major banks like Virgin Money that the value of people's homes will be affected and people trying to get on the housing market would be hit because mortgage costs would go up."

Exactly not.

Future purchasers would be unaffected because the hypothetical house price fall and hypothetical interest rate rise would cancel each other out.

6 comments:

Physiocrat said...

Amazing that these "experts" cannot see this. On second thoughts it is scary.

Ben Jamin' said...

Good to see the In camp launch the House Price Missile at last.

The Brexit camp needs to retaliate with their own HPM counter strike.





Bayard said...

Phys, as an old lady of my acquaintance was wont to say, "there's none so blind as them that don't want to see".

Bayard said...

Brexit will cause house prices to fall: this is a Bad Thing.
Building on the Green Belt will cause house prices to become more affordable, i.e. to fall. This is a Good Thing.
Are we in Wonderland or Through the Looking Glass?

Mark Wadsworth said...

B: "Building on the Green Belt will cause house prices to become more affordable, i.e. to fall. This is a Good Thing."

I thought that building on The Hallowed Green Belt was just about the Worst Thing Ever?

Bayard said...

M, There's the dichotomy: if you're a Tory politician trying to woo the voters of the Shires, it is. If you are a Tory politician trying to woo the voters of London, or keep your property speculator friends happy, it's not.