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null;

Houses could be worth up to 18% less

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For most on here I would imagine the title reads like good news. Yes, bring it on I say. I own my home 100% but value it as a home and I am more interested in the burden of housing cost that my children will have to bear.

Anyway, back to the title, Its from two years ago. When Gideon told the So-Called BBC that in two years time houses could be worth up to 18% less than if the UK voted to remain.

So here were are two years on. Could he have been any more wrong?

What a disgrace that the Chancellor peddled such project fear propaganda and that the state broadcaster BBC no doubt took delight in publishing it.

There was some balance in the So-Called BBC analysis as they included a comment from Vince, although on the whole the analysis was without doubt biased towards remain:

"Sir Vince tweeted: "Osborne on house prices. Surely big price fall good for affordability and economic balance. Stick to jobs and basic economics George." "

And this little gem from our favorite ex PM, please think of the children (yes, we are, that's why we voted to leave):

"former Prime Minister Gordon Brown urged mothers to vote for the UK to stay in the EU for the sake of their children. "

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Why has the auto correct not changed 'Gordon Brown'  to something more apropriate?

Look forward to the suggestions on what the more apropriate text should be.

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There is a perceived wisdom amongst politicians, and I have heard them state it, that their encouraging rising house prices is a vote winner.

Someone coming out and talking sense about house prices in very simple language but persuasively and explaining the negative consequences of their continued rise and the positive consequences of their falling could make a lot of people see sense.

That person is not however Vince as much as he may say this he dies nothing about it; now or when in government.  The old "watch what they do, not what they say" lesson.

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2 hours ago, null; said:

 

Anyway, back to the title, Its from two years ago. When Gideon told the So-Called BBC that in two years time houses could be worth up to 18% less than if the UK voted to remain.

 

Pardon, I thought the muppet Gideon said if we LEAVE the EU houses would be worth less?

OR it could be me getting a bit senile  in me old age... :Old:

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The pound dropped sharply after the referendum. Don't ask me to do the maths but there might be a case to say that any partícular house might be worth less now than it was then, because the GBP that you got when you sold it are not worth as much. No idea if 18% is the right number. 

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Posted (edited)
27 minutes ago, Yellow_Reduced_Sticker said:

Pardon, I thought the muppet Gideon said if we LEAVE the EU houses would be worth less?

OR it could be me getting a bit senile  in me old age... :Old:

You comment has prompted me to re-read what the muppet Gideon said.

Vote leave and houses will be worth 18% less than if you vote remain. Read it quickly and it sounds like house prices will go down by 18%.

Most people will just read the first part "Vote leave and houses will be worth 18% less" but add on "than if you vote remain" and it means something rather different. I'll admit that's how I first read it! I'm the one going senile!

So for example, vote remain and house prices will go up by 28% but vote leave and they will only go up by 10%.

Or maybe vote remain and house prices will go up by 5% but vote leave and they will go down by 13%.

The reality is (like most/all predictions on leave vs remain scenarios) that there is no way to ever to know who was right or wrong.

Edited by null;
typo

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3 minutes ago, Funn3r said:

The pound dropped sharply after the referendum. Don't ask me to do the maths but there might be a case to say that any partícular house might be worth less now than it was then, because the GBP that you got when you sold it are not worth as much. No idea if 18% is the right number. 

The value of the GBP against other currencies is not relevant for this.

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4 minutes ago, null; said:

The value of the GBP against other currencies is not relevant for this.

Anyway, back to the title, Its from two years ago. When Gideon told the So-Called BBC that in two years time houses could be worth up to 18% less than if the UK voted to remain.

How do you mean? I appreciate that some people who sell their house immediately buy another one nearby. Not the same for everyone though. If you sold your house for say a margin call or just plain STR then that Gideon quote is absolutely true. 

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2 minutes ago, Yellow_Reduced_Sticker said:

@null; from memory muppet Gideon & his anal retentive bum-chum Cameroon were saying houses would CRASH if we left!

I'm pretty sure of that...

The irony is that we want them to be correct!

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The Guardian reported it with this headline - "House prices could fall by 18% if Britain quits EU, says Gideon"

Which is a misleading headline without the qualifier, but then of course its the Guardian so what do you expect.

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2 minutes ago, jm51 said:

up to 18% less

Would have to be more than 18% less for it to be not true.

 

Yes, its the up to 18% but further to that, we will never know if it was true or not.

I predict that if you toss a coin and its heads, within 24hrs your house will be worth up to 10% more than if it was tails. Come back in 24hrs and prove me wrong/right.

Unless we can at that moment split into two paralell universes and each one take a different path.

 

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