What History Reveals on a No Deal Brexit Home-Price Crash
(Bloomberg) -- In checking the ability of U.K. lenders to weather a no deal Brexit, the Bank of England are running a scenario that has happened just once the last 120 years. The BOE’s stress tests include a 33 percent drop in house prices, which, according to research by Bloomberg Economics, hasn’t been seen since the early 20th century. Even in that instance, the figures are distorted by the fact that only London prices are used as a substitute for the whole country.
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