Hammer homes: Would a house price crash be a good thing?
The Bunker – News without the nonsense
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Introduction
With rent soaring and homeowners facing a spike in their mortgage repayments, housing costs are set to become an election winning or losing issue. Joining us is Pete Apps who won the Orwell Prize for his book Show Me the Bodies which looked into the years of failure that led up to the tragedy of Grenfell. He says house prices are slowly reacting to changes to interest rates because as the cost of servicing a mortgage rises, the amount that people can afford to pay for a house decreases. So that's changing demand, whether buyers kind of want to go out into the market now, or whether they want to keep their power to dry and hope that by some miracle, we might see rates fall
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