You have no idea Julia. Prices were about to fall off cliff late 2012. Then arch Cronyist Osborne brought in Marxist H2B. 1/
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The only 'demand' is based on easy money.
#endh2b and demand plummets and supply soars. Easy money boosts ANY asset price. True Econ 101. /2
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Economics 201 tells you the supply & demand of credit a bigger factor
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Credit sets a upper limit in what you can pay, it does not set the purchase price.
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SAme thing, isn't it?
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If low supply - credit enables 2 buyers to compete for a property. If high supply - why compete for same property, lots to choose from.
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Not saying isn't important, just that credit a bigger factor
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Cheap credit biggest factor.
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We are emitting one key issue to this argument; yes house prices have increased but the value of your money has diminished.
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Yes. But the supply required to make a material difference to prices is massive. High prices mostly caused by low interest rates
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