The Mirror:
Experts predict house prices could plummet by up to 40 PER CENT due to Brexit and wage drop
2 July 2017
House prices could plummet by almost 40 per cent as Britain faces a crash similar to that in the 1990s, a leading professor at the London School of Economics has warned. A possible Brexit -sparked recession coupled with a fall in real earnings, could cause a double blow to homeowners and put them at risk of 'negative equity' - meaning that the value of their home is less than the cost of their mortgage. Professor Paul Cheshire, Professor of Economic Geography at LSE, warned the property market could collapse as prices reflect the decline in earnings.