They are Not Making Any More Land in the UK Either

The Royal Institution of Chartered Surveyors has some concern about the housing market in the UK. I don’t know why they should be concerned, England is an island, and “they are not making any more land”, housing prices should continue to grow there forever.


“Estate agents and surveyors were more pessimistic in May about house prices than at any time since November 1992, the Royal Institution of Chartered Surveyors reports on Tuesday.

But a depressed housing market and weak consumer spending do not guarantee a cut in interest rates, Mervyn King, the governor of the Bank of England, said in a speech on Monday night." More...