Anyone think it is reasonable to predict plummeting high end real estate prices and a further pummelled pound as demand dries up and motivated sellers dump properties and sell pounds here?
Some of them are just buying a home, I was caught in this when I bought my first flat, prices fell by 25% and I found it very difficult to move when my job moved.
That’s risk vs reward though. You take the risk that prices will drop (and that you will have less flexibility to move) in exchange for the reward that prices will rise (and for a slightly more stable cost than renting, sometimes). You can’t have it both ways.
I just wonder what is the bigger story behind this anyway? I have come across this study that claims that UK has the largest net debt to other EU countries. [1] There is significant amount of debt that is "mutual" within the EU in that it could be "canceled out" (I.e. UK owes Germany, Germany owes Italy, Italy owes UK) So here is the result: http://econ.anthonyjevans.com/2012/08/eu-debt-write-off/writ...
UK €460Bln, Italy €204Bln ... Germany €108Bln, France just €1Bln.
So this clearly shows that UK might indeed profit from the devaluation of pound. Is UK so far on the debt spiral that has to do it? Thus Brexit?