While this would have been great news a year ago in that it might have helped bring a soft landing to Britain’s overheated housing market, I feel this is likely to be one of a huge pile of things that’s likely to cause a very hard landing.
And as much of the world learned in 2008, there’s no escaping the system. If there’s a huge housing crash, life will become quite brutal for all but the poorest of Britons that have nothing to lose.
Much as I disagree with the UK voters choice to leave the EU, it was their choice, and I hope the cost is as minimal as possible for both the UK and the EU. I am pessimistic, however, as to what will constitute minimal.
