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TheCountOfNowhere

Bank of England finally admit their role in the broken housing market

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https://www.thetimes.co.uk/article/bank-of-england-finally-admit-their-role-in-the-broken-housing-market-s0sbxqjh3

“We find that the rise in real house prices since 2000 can be explained almost entirely by lower interest rates,” the authors write. “Increasing scarcity of housing has played a negligible role.”

 

Bunch of evil cheating lying ####s doesn't even come close to describe these people. 

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It's a lie.

The BoE blaming just interest rates partly gives them an excuse, the economy needed low rates, recession, blah blah. It ignores the damage they did by increasing lending multiples from 3x Main plus 1x Second incomes, to the current "no more than 15% of mortgages can be greater than 4.5x household income". The average house price has tripled on those increased lending multiples, when it should have only gone up 50% based on wage increases.

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