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Article: Even a 10 per cent fall in house prices will have a limited effect
- Article from:
- The Sunday Telegraph London
- Article date:
- April 20, 2008
- Author:
CopyrightCopyright 2008 The Sunday Telegraph London. Provided by ProQuest LLC. (Hide copyright information)
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A strange thing happens when some people comment on house prices.
There is something close to an inversion of the logic that is
applied to other economic issues.
When food prices go up - as they have done recently - this is
considered bad news. But when house prices go up, this is often
considered good news; or more clearly when house prices fall - as
they have in much of the UK recently - this is considered bad news.
But in very many ways houses and food are rather similar - food and
shelter are necessities that you need to buy for about as long as
you live.
There are winners and losers when food prices fall - often the
losers are farmers - just as there are winners and losers when house ...