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Old 02.05.2018, 18:12
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Re: The Brexit referendum thread: potential consequences for GB, EU and the Brits in

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Switzerland suffered a housing price crash in the nineties, with longer duration (from about 1992 to 2000) but similar cumulative effect as the housing price crash in the US ten years ago - close to 50% drop (after inflation) in rental house values. It was triggered and unnecessarily prolonged the Swiss National Bank's monetary policy. You simply don't see the economy thrive with that kind of housing market.
Having lived through the UK recessions in the early 80s and first half of the 90s I always saw it as monetary policies adversely affecting businesses first, with the poor housing market a by product of that.

The poor housing market certainly had a bad effect on the economy as for homeowners it made it relocation for work difficult and in many cases economically impossible for those with the skills to get jobs elsewhere.

Last edited by pdofr; 02.05.2018 at 18:16. Reason: added "for homeowners"
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