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"real estate will become a little more affordable"

For many people in the UK any decrease in house prices is regarded as a very good thing indeed. (perhaps i'd be able to finally afford a property!)

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For those who don't own, yes. For those who do own, and who banked on the value of their property for things like retirement, etc... or who will go underwater and into financial crisis... it's bad. There is always a two sided balance that has ripple effects in both directions.

If you can get a mortgage when the dust settles, and those holding the property decide to cut their losses rather than cling to it for dear life until it "bounces back".

What if those holding the property are among those who move their $1T out of Britain? The London market in particular was always under huge pressure from foreign investors.

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