But then again, logic probably couldn’t have foreseen in 2010 the Googles, Facebooks, investment funds, negative interest rates etc. impact on the property market, so there are many unknowns.
However, this time, I think all our potential get out of free cards may have been played.
We now have significantly more debt, there aren’t many more Googles etc., interest rates can’t go much further into negative territory without annoying our low debt eastern european euro members, not much bulk buying of properties at significant discounts left for the investment funds to get interested in etc.
If anything, with the international tax rules changing, we may lose some of the Googles, the investment funds may be looking to get out rather than get in, can we really keep borrowing at these levels etc.
Maybe there are queues for houses, but if they were real and not rent-a-queue, I’m sure the media would be all over it. P.S. I don’t know if there are rent a queue companies, so my last point is partly in jest.