It is Obvious

Chris Rick has got altogether too much to say

Cameron backs Brexit!

Posted by chrisrick13 on May 30, 2016

It is obvious: leaving is inevitable

When you retire and own your own home you have a large asset that you can do little with unless you plan to move to a hole in the ground.  The value of your home is only of interest to your heirs.

If you are late into your life but not retired you probably own the house you are going to die in.  A few people move and realise some of the value, but not many.

If you are in the early part of your career then you probably share ownership of your house with a bank but are looking to increase your indebtedness to said bank to move to a bigger house.

If you are just starting out in the world of work then you are probably trying to work out how to get enough cash together so that you can put a deposit on a house and persuade a bank to lend you the rest.

You might be part of a group that recognise there is no way that you are going to do any other than rent somewhere to live for the rest of your life and that possibly helped by the state.

What does a drop in house prices do to each of those groups?  It improves their lot or makes no difference.  A first time buyer suddenly finds houses a lot easier to finance.  Someone moving up finds the next house is closer.  Some of those renting suddenly realise that houses have moved closer to their grasp.

The people who do not want a drop in house prices are those in negative equity or close to it.  Sooner or later interest rates will have to go up which will have the same effect.  The other sufferers will be the banks that will go bust on the bad debts caused by a drop in house prices…or rise in interest rates.

That nice Mr Cameron has said, loud and often, that Brexit will mean house prices collapse.  This means that for the majority of people in the UK they will be a lot better off.  Vote leave!

It is obvious: leaving is inevitable for the EU

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