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The housing problem is an entirely different thing - across all the first-world countries we’re seeing problems with a lack of available housing, even in places like Germany which has had a surplus since reintegration. England has it bad because a) neoliberal capitalist policies of the 80s & 90s b) our housing stock was mostly renewed in the 1900s and is now fucked and c) the Blair years had a policy of knocking down excess housing in the north.
Tl:dr; no u can’t have a house
user800813590210
JWestland
Remember what happened to New Zealand when the UK stopped buying lamb? 14% interest rates.
If that is what we are going to get, except lots of broke home owners, leading to bankruptcy, loss of tax income and wiping out of assets. Thatcher years basically with even worse inequality and potential loss of banking industry tax revenues as a bonus for leaving the EU.
Yes the house prices will reset to a "normal" value, but this has already -mostly- happened in the 2006 crash. Which has just about been paid off, ready for another one? 12 years of fun!
Yes NZ got out of it in the end, but pretending it will be a "small short term problem" is I think being too optimistic.
And Brexit is a fuckload more involved than losing your biggest customer for a concrete good, there is also services etc.
Even with the massive problems in the past caused by lack of housing any solutions were just temporary, as now 20 years on it is back to housing shortage*
*housing is actually a fuckload more complicated than "build more new stuff, fast" due to planning issues, who pays for it etc... just disagree that trashing the economy is the best way to get cheaper houses. And there is of course the problem that the financers often aren't interested in council housing as it is not THE way to make lots of cash, others don't want house prices to drop as it is not that your bank gets you a mortgage discount so there you go...
[shortages are not unique to the UK BTW but the lack of affordable housing efforts seems worse to me compared to other countries, I can of course be wrong]