This Week’s Golden Nuggets – BOE Warns Of UK House Price Crashda
-- Published: Friday, 14 September 2018 | Print | Disqus
News, Market Updates, Charts and Videos You May Have Missed
Here is our Friday digest of the important news, market updates, charts and videos we were informed by this week.
We felt it important to do a video update which considers the risks that Brexit poses to the London property market. This is a very real risk that has not been assessed in the British and Irish media.
Our timing was good and the Bank of England must have been listening to us! Yesterday, Bank of England governor Mark Carney confirmed that there are real risks to UK property investors and the UK economy, when he warned that a “no- deal Brexit” would likely result in economic chaos and a UK house price correction or crash of some 35%.
In a stark warning to the British government, Mark Carney told ministers that the impact of a no-deal Brexit could be as “catastrophic” as the 2008 financial crisis.
Needless to say this would result in a very serious recession indeed in the UK and would have consequences for the Irish economy, EU economies and other over-valued property markets – one of which is in Dublin, Ireland.
Protestors hold signs behind Richard Fuld, Chairman and Chief Executive of Lehman Brothers Holdings after its collapse led to the last global financial crisis. REUTERS/Jonathan Ernst/File Photo
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