Britain's property prices may remain ridiculously high - even if no one is buying houses
Reuters
Basically, there aren't enough houses to meet demand and developers are unlikely to build many more homes given the current economic outlook. Some analysts think that even if buyers desert the market in large numbers, this mismatch between supply and demand will keep prices high.
While Britain's housing market is indeed on the brink of a collapse should interest rates rise, it looks like the Bank of England is not going to raise rates from a record low of 0.5% any time soon because it knows the consequences.
HSBC recently released its "UK Housing Market Chartbook (July)," which has nearly 50 charts that summarised the state of Britain's property sector.
Within the massive chartbook are four charts that show how supply issues, especially in light of Britain voting for a Brexit, could easily keep prices from dropping. Here they are:
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