Re:UK votes to leave EU
by nmeofthestate on Friday June 24, 2016 @12:09PM
(#11970911)
>Falling house prices
But we would need to look at the root causes of a fall in house prices. Is it because people will have less money to spend? If so, then it's not made housing any more affordable.
1. Falling house prices (George Osborne estimated 18%, helped by rising interest rates) will help many, many young people get on the housing ladder. You can look at this as a massive redistribution of wealth from old to young;
2. Although full of optimism while studying at university, many UK graduates have been crowded out of the job market by more experienced EU migrants, coming from countries with far worse unemployment rates.
3. Young people didn't have much invested in the UK, and in many ways had the least to lose.