Housing market: Part 2
How large is this bubble?
Dear Reader,
In Part 1 we established that there has developed a substantial disconnect between the average price of housing and the average intrinsic value. Now, we will look at how large this bubble is across the entire market.
As of last year, there were 27.6 million homes in the UK. This means that it would cost you Β£6.38 trillion (yes, trillion, withβ¦