Date Published 14 November 2016
Thinking this evening what to write about this week, my wife had mentioned that I should write something about the American election of Donald Trump. Yet how does this effect the British Housing market one may ask? I have just watched tonight's Panorama on Trumps New America and it got me thinking. After the aftermath of many weeks of abuse between the Republican and more tactile Democratic candidates, I suspect many may have jokingly thought that this can only have ever happened in the USA. How could we take this seriously? Surely given the rhetoric between those concerned, the sensible minded approach would have been to have put ones hands up, accepted this is not working for either party and start again with fresh candidates. Yet like Brexit, the people have had their say, and whilst the pundits have got it all wrong, at the end of the day the wishes of the people within a democratic civil society must be respected.
If the unexpected can happen in the USA brought on by the erosion of jobs and a society blighted by real estate depression, could a similar thing happen here within the UK? America once had a dream, home ownership with secure jobs and a harmonious future. Yet the dream has soured, so much so that some would argue that the people have rebelled. Trump has promises to put the America back into America. Great if he is successful, yet are the goals achievable? Just over half the population, like Brexit are behind the decision, fine for those supporters, but I do wonder where you have such a tight margin that the opinions of the losing party are not necessarily going to accept the outcome. We have already seen this with protests in the US. Whilst Brexit does not appear to have had the immediate effect that many had predicted, one could argue that the effects will not come immediately, they come the closer you get to ‘D'day. Then once upon us if the outcome is not positive, you're too far entrenched to turn back and you're left to try to make the best out of an awkward situation. The 60's generation appear to have benefited most out of the UK housing market, yet it is the kids of today that struggle to afford to buy and are being forced to rent. Today's generation are encountering ever higher rents at the expense of their own personal disposable income and savings. The knock on effect is that irrational outcomes in the USA could be replicated in years to come within the UK as the working class masses rebel in their efforts to give the UK people a fairer society when it comes to home ownership.