Britons £500 billion poorer as house prices fall
I thought it might be interesting to put the latest Nationwide house price data and the recent land write downs made by Taylor Wimpey into a different context. I’d say for fun, but the real consequences are far from funny to a lot of people. So here is a thought to conjure with: The value of all housing in the UK has dropped (assuming the Nationwide measure is accurate) by about £500 billion in less than a year. To put…