Posted: Apr 12, 2018 11:43 am
minininja wrote:I've seen a number of declarations recently that the UK housing market is dead. "The Royal Institution of Chartered Surveyors said that in March demand from buyers fell for the 12th month in a row". This is a special sort of economic nonsense. One of the fundamental flaws of neoclassical economics is that demand is measured not as an amount something is needed but as an amount wanted by those *able to pay*, meaning people can be priced out of the market and do not count towards demand.
London and the SE skew the perception of the UK housing market a tremendous amount. Apparently if the housing market isn't 'moving' down there, then it is the end of the world or similar bullshit.
Elsewhere in the country, houses sell just fine because people can afford them.