Property prices, particularly in London and the south-east are completely out of control, and have been for years. Osborne’s economic policies seem determined to keep the whole dodgy scheme running despite the fact that more and more people are being priced out of the market. What’s interesting about the London property bubble is that it is increasingly fueled by foreign banks and investors. Meaning that exposure to its eventual collapse is distributed. Quick: everybody buy a second home now!
3 thoughts on “The UK property bubble is the key to the next financial crisis”
Will J Corbyn, Leader scare off the Chinese and Russian money-launderers, or will they think, “Now here’s someone we can really do business with”?
Even if he were electable (I wish he were but I don’t think the UK electorate is clever enough to vote for him), you’re banking on 5 more years before the crash. But then, I guess Gideon is too.
Well, 5 months would be nice.